Cullinan Associates Inc. Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Cullinan Associates Inc. cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 85.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,141 shares of the biopharmaceutical company's stock after selling 85,844 shares during the quarter. Cullinan Associates Inc.'s holdings in Gilead Sciences were worth $1,399,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Columbus Macro LLC lifted its stake in Gilead Sciences by 55.9% during the 4th quarter. Columbus Macro LLC now owns 25,103 shares of the biopharmaceutical company's stock valued at $2,319,000 after acquiring an additional 9,004 shares during the period. Trust Point Inc. raised its holdings in shares of Gilead Sciences by 4.2% during the fourth quarter. Trust Point Inc. now owns 4,213 shares of the biopharmaceutical company's stock worth $389,000 after purchasing an additional 169 shares during the last quarter. Optas LLC acquired a new position in Gilead Sciences during the fourth quarter valued at $240,000. Jennison Associates LLC purchased a new stake in Gilead Sciences in the fourth quarter valued at $87,163,000. Finally, Resonant Capital Advisors LLC raised its stake in shares of Gilead Sciences by 16.2% during the 4th quarter. Resonant Capital Advisors LLC now owns 17,482 shares of the biopharmaceutical company's stock valued at $1,615,000 after buying an additional 2,441 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Down 2.0 %

Shares of GILD traded down $2.00 during midday trading on Friday, reaching $96.04. The stock had a trading volume of 7,182,199 shares, compared to its average volume of 6,916,494. The company has a market cap of $119.69 billion, a price-to-earnings ratio of 1,067.11, a PEG ratio of 1.37 and a beta of 0.18. The company's fifty day simple moving average is $92.97 and its two-hundred day simple moving average is $86.49. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $100.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the previous year, the business earned $2.29 EPS. Gilead Sciences's revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts expect that Gilead Sciences, Inc. will post 4.34 earnings per share for the current year.

Insider Activity at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 6,788 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction on Friday, January 31st. The stock was sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at $12,626,253.06. This represents a 52.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 572,824 shares of company stock valued at $53,611,715 over the last three months. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GILD has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on Gilead Sciences from $74.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Maxim Group cut shares of Gilead Sciences from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Leerink Partnrs upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 21st. Finally, Truist Financial upped their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and an average price target of $98.39.

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.