Envestnet Asset Management Inc. Cuts Stock Holdings in Gilead Sciences, Inc. $GILD

Envestnet Asset Management Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 1,828,396 shares of the biopharmaceutical company’s stock after selling 19,579 shares during the period. Envestnet Asset Management Inc.’s holdings in Gilead Sciences were worth $202,952,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GILD. GoalVest Advisory LLC boosted its position in shares of Gilead Sciences by 7,566.7% during the second quarter. GoalVest Advisory LLC now owns 230 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 227 shares during the last quarter. Corundum Trust Company INC bought a new position in Gilead Sciences during the 3rd quarter valued at about $26,000. Harbor Asset Planning Inc. purchased a new stake in shares of Gilead Sciences during the 2nd quarter valued at about $27,000. Howard Hughes Medical Institute purchased a new stake in shares of Gilead Sciences during the 2nd quarter valued at about $30,000. Finally, Putney Financial Group LLC grew its stake in shares of Gilead Sciences by 53.4% in the second quarter. Putney Financial Group LLC now owns 270 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 94 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $125.86, for a total transaction of $3,524,080.00. Following the completion of the transaction, the insider directly owned 107,193 shares of the company’s stock, valued at approximately $13,491,310.98. This represents a 20.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $124.31, for a total value of $372,930.00. Following the completion of the sale, the chief financial officer directly owned 150,503 shares in the company, valued at approximately $18,709,027.93. The trade was a 1.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 257,397 shares of company stock valued at $33,385,512 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Gilead Sciences Trading Up 2.1%

Shares of Gilead Sciences stock opened at $149.37 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $93.37 and a fifty-two week high of $150.50. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45. The company has a market capitalization of $185.32 billion, a P/E ratio of 23.16, a P/E/G ratio of 0.77 and a beta of 0.36. The company has a fifty day moving average of $126.84 and a 200 day moving average of $120.60.

Analysts Set New Price Targets

GILD has been the topic of several research reports. HSBC raised their target price on shares of Gilead Sciences from $110.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, December 10th. UBS Group raised their price target on Gilead Sciences from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $135.00 price objective on shares of Gilead Sciences in a research report on Friday, October 31st. Wells Fargo & Company increased their target price on Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Finally, Needham & Company LLC raised their target price on Gilead Sciences from $133.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.73.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.