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

Cinctive Capital Management LP decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 43.0% during the fourth quarter, according to its most recent 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 quarter. Cinctive Capital Management LP's holdings in Gilead Sciences were worth $9,766,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC boosted its position in Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership purchased a new position in Gilead Sciences in the fourth quarter valued at $28,000. Decker Retirement Planning Inc. acquired a new position in shares of Gilead Sciences in the fourth quarter worth about $29,000. Crews Bank & Trust purchased a new stake in shares of Gilead Sciences during the 4th quarter worth about $31,000. Finally, Stephens Consulting LLC grew its position in shares of Gilead Sciences by 325.0% during the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Down 2.5 %

Shares of Gilead Sciences stock traded down $2.71 during trading hours on Monday, reaching $104.54. 5,683,780 shares of the company were exchanged, compared to its average volume of 8,648,900. The firm has a market cap of $130.17 billion, a PE ratio of 282.07, a PEG ratio of 0.71 and a beta of 0.32. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96. The stock's fifty day moving average is $107.30 and its 200 day moving average is $95.98.

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Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. As a group, equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.79 per share. This is a boost from Gilead Sciences's previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Friday, March 14th. Gilead Sciences's payout ratio is 854.05%.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 17,929 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $118.17, for a total value of $2,118,669.93. Following the completion of the transaction, the chief financial officer now owns 169,061 shares in the company, valued at approximately $19,977,938.37. This represents a 9.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 302,785 shares of company stock valued at $30,503,250 over the last quarter. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Royal Bank of Canada lifted their price target on Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. Bank of America raised their price objective on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. BMO Capital Markets upped their target price on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price target on shares of Gilead Sciences from $123.00 to $130.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.