Gilead Sciences, Inc. (NASDAQ:GILD) Stock Holdings Lowered by RNC Capital Management LLC

RNC Capital Management LLC cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 678,435 shares of the biopharmaceutical company’s stock after selling 3,391 shares during the period. Gilead Sciences accounts for 3.3% of RNC Capital Management LLC’s holdings, making the stock its 6th biggest position. RNC Capital Management LLC owned about 0.05% of Gilead Sciences worth $54,960,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its holdings in Gilead Sciences by 9.2% during the first quarter. Cetera Investment Advisers now owns 57,967 shares of the biopharmaceutical company’s stock valued at $3,446,000 after purchasing an additional 4,877 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Gilead Sciences by 3.9% in the first quarter. Baird Financial Group Inc. now owns 448,409 shares of the biopharmaceutical company’s stock valued at $26,660,000 after purchasing an additional 16,643 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Gilead Sciences by 44.3% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,642 shares of the biopharmaceutical company’s stock valued at $514,000 after purchasing an additional 2,654 shares during the period. Donaldson Capital Management LLC lifted its stake in shares of Gilead Sciences by 12.5% in the first quarter. Donaldson Capital Management LLC now owns 5,763 shares of the biopharmaceutical company’s stock worth $343,000 after buying an additional 641 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in shares of Gilead Sciences in the first quarter worth about $2,304,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on GILD. Oppenheimer decreased their price target on shares of Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Royal Bank of Canada reduced their price target on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 14th. Mizuho reduced their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Truist Financial downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Finally, StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.36.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $85.78, for a total transaction of $428,900.00. Following the completion of the transaction, the chief financial officer now owns 101,534 shares in the company, valued at approximately $8,709,586.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Johanna Mercier sold 8,242 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $85.23, for a total transaction of $702,465.66. Following the transaction, the insider now directly owns 82,729 shares of the company’s stock, valued at approximately $7,050,992.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total transaction of $428,900.00. Following the transaction, the chief financial officer now directly owns 101,534 shares in the company, valued at $8,709,586.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,242 shares of company stock worth $1,277,726. 0.16% of the stock is owned by insiders.

Gilead Sciences Stock Up 0.8 %

Shares of NASDAQ:GILD opened at $73.01 on Thursday. The firm has a 50 day simple moving average of $75.38 and a 200-day simple moving average of $77.32. Gilead Sciences, Inc. has a twelve month low of $71.37 and a twelve month high of $87.86. The company has a market capitalization of $90.90 billion, a PE ratio of 16.22, a P/E/G ratio of 0.92 and a beta of 0.18. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter last year, the company earned $1.67 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities analysts predict that Gilead Sciences, Inc. will post 7.07 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.22%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s dividend payout ratio is presently 68.44%.

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.