RNC Capital Management LLC Decreases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

RNC Capital Management LLC lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 458,670 shares of the biopharmaceutical company's stock after selling 190,748 shares during the quarter. Gilead Sciences accounts for approximately 2.3% of RNC Capital Management LLC's investment portfolio, making the stock its 20th biggest position. RNC Capital Management LLC's holdings in Gilead Sciences were worth $42,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GILD. nVerses Capital LLC acquired a new position in Gilead Sciences in the 3rd quarter valued at $25,000. HHM Wealth Advisors LLC raised its stake in Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Valued Wealth Advisors LLC lifted its position in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 161 shares during the period. YANKCOM Partnership bought a new position in Gilead Sciences in the 4th quarter valued at about $28,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter valued at approximately $29,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 142,180 shares of the stock in a transaction on Friday, January 31st. The stock was 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 in the company, valued at approximately $12,626,253.06. This trade represents a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the transaction, the director now owns 8,920 shares of the company's stock, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 572,824 shares of company stock valued at $53,611,715 in the last 90 days. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

Gilead Sciences stock traded down $2.00 during trading on Friday, hitting $96.04. The stock had a trading volume of 7,182,199 shares, compared to its average volume of 6,866,207. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock's 50 day moving average is $93.04 and its two-hundred day moving average is $86.76. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $100.51. The stock has a market cap of $119.69 billion, a price-to-earnings ratio of 1,067.11, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.01 billion. During the same period in the prior year, the company posted $2.29 EPS. Gilead Sciences's revenue was up 7.0% compared to the same quarter last year. As a group, analysts predict that Gilead Sciences, Inc. will post 4.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GILD shares. Oppenheimer lifted their price objective on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, December 10th. Bank of America reiterated a "buy" rating and issued a $109.00 target price on shares of Gilead Sciences in a report on Tuesday, December 10th. Leerink Partners upgraded shares of Gilead Sciences from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. UBS Group increased their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a "neutral" rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company boosted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.39.

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.