iA Global Asset Management Inc. Has $13.23 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

iA Global Asset Management Inc. grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,641 shares of the biopharmaceutical company’s stock after acquiring an additional 8,350 shares during the quarter. iA Global Asset Management Inc.’s holdings in Gilead Sciences were worth $13,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of GILD. Norges Bank purchased a new position in Gilead Sciences during the 4th quarter worth $1,301,624,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Gilead Sciences by 78.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after buying an additional 3,362,505 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after buying an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Gilead Sciences by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after buying an additional 2,350,550 shares during the last quarter. Finally, abrdn plc boosted its holdings in shares of Gilead Sciences by 89.0% in the 4th quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock worth $304,930,000 after buying an additional 1,772,887 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Gilead Sciences Price Performance

Shares of GILD traded up $0.43 during midday trading on Thursday, hitting $76.49. 5,657,641 shares of the company traded hands, compared to its average volume of 7,422,106. The stock has a 50-day moving average of $68.37 and a 200-day moving average of $70.90. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. The firm has a market cap of $95.30 billion, a P/E ratio of 212.28, a PEG ratio of 3.43 and a beta of 0.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of research analyst reports. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $74.00 price target on shares of Gilead Sciences in a report on Monday, July 1st. HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a research note on Wednesday, April 24th. Morgan Stanley lowered their price objective on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Maxim Group lowered their price objective on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Gilead Sciences currently has an average rating of “Hold” and an average target price of $81.81.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.