Gilead Sciences, Inc. (NASDAQ:GILD) Stake Lowered by Cinctive Capital Management LP

Cinctive Capital Management LP trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 43.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,722 shares of the biopharmaceutical company’s stock after selling 79,673 shares during the period. Cinctive Capital Management LP’s holdings in Gilead Sciences were worth $9,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. raised its holdings in shares of Gilead Sciences by 94.5% during the 3rd quarter. Edgestream Partners L.P. now owns 23,917 shares of the biopharmaceutical company’s stock valued at $2,005,000 after purchasing an additional 11,618 shares in the last quarter. Kestra Investment Management LLC bought a new position in Gilead Sciences during the third quarter valued at about $210,000. Atom Investors LP acquired a new stake in shares of Gilead Sciences in the third quarter worth about $1,085,000. Ascent Group LLC boosted its stake in shares of Gilead Sciences by 29.7% during the 3rd quarter. Ascent Group LLC now owns 16,673 shares of the biopharmaceutical company’s stock worth $1,398,000 after acquiring an additional 3,813 shares in the last quarter. Finally, Hilltop Holdings Inc. increased its holdings in shares of Gilead Sciences by 1.1% during the 3rd quarter. Hilltop Holdings Inc. now owns 24,156 shares of the biopharmaceutical company’s stock valued at $2,025,000 after acquiring an additional 269 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 142,180 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $97.22, for a total value of $13,822,739.60. Following the sale, the chief financial officer now owns 129,873 shares of the company’s stock, valued at $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 302,785 shares of company stock worth $30,503,250 over the last three months. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Down 0.7 %

Shares of NASDAQ GILD opened at $111.28 on Wednesday. The firm has a 50 day moving average price of $106.25 and a 200 day moving average price of $95.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The stock has a market cap of $138.58 billion, a P/E ratio of 300.76, a P/E/G ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $119.96.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.79 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.84%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is presently 854.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GILD shares. JPMorgan Chase & Co. increased their price target on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Piper Sandler raised their target price on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Oppenheimer raised their price target on Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Bank of America boosted their price objective on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.12.

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.