Cinctive Capital Management LP Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Cinctive Capital Management LP trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 43.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its position in shares of Gilead Sciences by 1.4% in the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after acquiring an additional 841,776 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Gilead Sciences by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock worth $3,293,822,000 after purchasing an additional 1,058,331 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Gilead Sciences by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock worth $2,608,337,000 after buying an additional 749,047 shares in the last quarter. Norges Bank acquired a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $1,789,254,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Gilead Sciences by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,779 shares of the biopharmaceutical company’s stock valued at $739,217,000 after buying an additional 249,804 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

Shares of GILD opened at $111.28 on Wednesday. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $119.96. The company has a market cap of $138.58 billion, a P/E ratio of 300.76, a PEG ratio of 0.71 and a beta of 0.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The stock has a fifty day moving average price of $106.25 and a 200 day moving average price of $95.40.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. On average, research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

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

Insider Buying and Selling at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 142,180 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 129,873 shares of the company’s stock, valued at approximately $12,626,253.06. This trade represents a 52.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 302,785 shares of company stock valued at $30,503,250. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GILD. Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. The Goldman Sachs Group raised their price target on Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Bank of America boosted their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.12.

Gilead Sciences Profile

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.