Gilead Sciences, Inc. (NASDAQ:GILD) Position Trimmed by RNC Capital Management LLC

RNC Capital Management LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,435 shares of the biopharmaceutical company’s stock after selling 3,391 shares during the quarter. Gilead Sciences makes up 3.3% of RNC Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. RNC Capital Management LLC’s holdings in Gilead Sciences were worth $54,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp grew its stake in Gilead Sciences by 2.6% during the 2nd quarter. State Street Corp now owns 59,317,162 shares of the biopharmaceutical company’s stock valued at $4,571,574,000 after acquiring an additional 1,514,894 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Gilead Sciences by 324.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock valued at $1,070,232,000 after buying an additional 13,764,169 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Gilead Sciences by 11.5% during the 4th quarter. Morgan Stanley now owns 17,196,950 shares of the biopharmaceutical company’s stock valued at $1,476,358,000 after buying an additional 1,780,489 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Gilead Sciences by 70.6% during the 1st quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock valued at $921,006,000 after buying an additional 6,410,047 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Gilead Sciences by 14.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,421,436 shares of the biopharmaceutical company’s stock valued at $951,350,000 after buying an additional 1,987,058 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GILD shares. Royal Bank of Canada reduced their price target on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a report on Wednesday, February 14th. Oppenheimer reduced their target price on Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Truist Financial lowered Gilead Sciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $91.00 to $82.00 in a report on Thursday, February 22nd. Barclays reduced their target price on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Finally, Mizuho reduced their target price on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences has an average rating of “Hold” and a consensus price target of $85.36.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $73.01 on Thursday. The business’s fifty day moving average price is $75.38 and its two-hundred day moving average price is $77.32. Gilead Sciences, Inc. has a fifty-two week low of $71.37 and a fifty-two week high of $87.86. The stock has a market capitalization of $90.90 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 0.92 and a beta of 0.18. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27.

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

Gilead Sciences Increases Dividend

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

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.