Principal Financial Group Inc. Sells 18,461 Shares of Gilead Sciences, Inc. $GILD

Principal Financial Group Inc. reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,382,414 shares of the biopharmaceutical company’s stock after selling 18,461 shares during the quarter. Principal Financial Group Inc.’s holdings in Gilead Sciences were worth $153,448,000 as of its most recent filing with the Securities & Exchange Commission.

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

Gilead Sciences Trading Up 0.7%

Gilead Sciences stock opened at $142.89 on Tuesday. The stock has a 50-day moving average price of $125.71 and a 200 day moving average price of $119.97. The company has a market capitalization of $177.28 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.36. Gilead Sciences, Inc. has a 52 week low of $93.37 and a 52 week high of $143.80. The company has a quick ratio of 1.31, a current ratio of 1.45 and a debt-to-equity ratio of 1.03.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho boosted their price target on Gilead Sciences from $131.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. JPMorgan Chase & Co. increased their price target on shares of Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. TD Cowen lifted their price objective on shares of Gilead Sciences from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Wells Fargo & Company raised their price target on Gilead Sciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Finally, Sanford C. Bernstein set a $135.00 price objective on shares of Gilead Sciences and gave the company an “outperform” rating in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $136.73.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 115,640 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $135.00, for a total value of $15,611,400.00. Following the sale, the chief executive officer directly owned 566,698 shares of the company’s stock, valued at approximately $76,504,230. This trade represents a 16.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $125.86, for a total value of $3,524,080.00. Following the completion of the transaction, the insider owned 107,193 shares in the company, valued at approximately $13,491,310.98. This trade represents a 20.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 257,397 shares of company stock worth $33,385,512. Insiders own 0.27% of the company’s stock.

Gilead Sciences Profile

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.