Maxim Group Downgrades Gilead Sciences: A Shift in Investment Sentiment
Funds Show Mixed Reactions to Gilead’s Outlook
Fintel reports that on November 8, 2024, Maxim Group downgraded their outlook for Gilead Sciences (SNSE:GILDCL) from Buy to Hold.
Fund Sentiment: A Closer Look
There are 2,850 funds or institutions reporting positions in Gilead Sciences, reflecting a decrease of 20 owners or 0.70% in the last quarter. The average portfolio weight of all funds dedicated to GILDCL is 0.40%, which marks an increase of 5.09%. Furthermore, total shares owned by institutions rose by 2.17% over the past three months to 1,262,285K shares.
Capital World Investors currently holds 76,250K shares, which represents 6.12% ownership of Gilead. Previously, they reported owning 84,497K shares, indicating a decrease of 10.82%. The firm’s portfolio allocation in GILDCL was reduced by 16.72% last quarter.
Another significant player, Capital Research Global Investors, has 60,428K shares, accounting for 4.85% ownership. Their prior report indicated ownership of 61,246K shares, resulting in a decrease of 1.35%. They also lowered their portfolio allocation for GILDCL by 10.38% in the past quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares has increased its holdings slightly to 39,368K shares, which is 3.16% ownership. Their previous filings showed 39,174K shares, reflecting a 0.49% increase. However, their portfolio allocation in GILDCL fell by 8.46% over the last quarter.
Dodge & Cox holds 33,122K shares, or 2.66% ownership, down from 33,167K shares, marking a decrease of 0.14%. The firm reduced its portfolio allocation by 3.23% last quarter.
Finally, VFINX – Vanguard 500 Index Fund Investor Shares has increased to 31,976K shares, representing 2.57% ownership, up from 31,400K shares. This reflects an increase of 1.80%, yet their portfolio allocation in GILDCL dropped by 9.71% in the last quarter.
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This story originally appeared on Fintel.
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