Gilead Sciences Sees Downgrade as Institutional Holdings Shift
On November 8, 2024, Maxim Group lowered its rating for Gilead Sciences (SNSE:GILD) from Buy to Hold.
Understanding Fund Sentiment
Currently, 2,850 funds and institutions have reported their positions in Gilead Sciences. This marks a decrease of 19 holders or 0.66% over the last quarter. The average portfolio weight of all funds for GILD has increased by 5.09% to stand at 0.40%. Over the last three months, total shares held by these institutions rose by 2.17%, now totaling 1,262,285K shares.
Capital World Investors, a significant player, holds 76,250K shares, which represents 6.12% of the company. This is a notable decrease from 84,497K shares previously, amounting to a drop of 10.82%, and the firm reduced its GILD allocation by 16.72% in the last quarter.
Similarly, Capital Research Global Investors owns 60,428K shares, accounting for 4.85% of Gilead. Previously, they held 61,246K shares, reflecting a decline of 1.35%. Their allocation in GILD has decreased by 10.38% in the recent quarter.
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) reports holding 39,368K shares, or 3.16%. This shows a slight increase from earlier holdings of 39,174K, an uptick of 0.49%. However, the fund also reduced its GILD allocation by 8.46% last quarter.
Dodge & Cox holds 33,122K shares, which is about 2.66% ownership. Previously, they reported 33,167K shares, indicating a minimal decrease of 0.14%, with a 3.23% lower allocation over the last quarter.
Lastly, the Vanguard 500 Index Fund Investor Shares (VFINX) has 31,976K shares, translating to 2.57%. This is an increase from the previous 31,400K, reflecting a rise of 1.80%. However, their portfolio allocation in GILD also fell by 9.71% during the past quarter.
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This article first appeared on Fintel.
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