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

Cullinan Associates Inc. lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 50.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,567 shares of the biopharmaceutical company's stock after selling 7,574 shares during the period. Cullinan Associates Inc.'s holdings in Gilead Sciences were worth $848,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GILD. Norges Bank purchased a new position in shares of Gilead Sciences in the fourth quarter worth about $1,789,254,000. FMR LLC grew its stake in shares of Gilead Sciences by 21.6% in the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after acquiring an additional 7,157,113 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Gilead Sciences by 13,891.1% during the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock valued at $285,761,000 after buying an additional 2,532,070 shares during the last quarter. Northern Trust Corp boosted its position in shares of Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after buying an additional 2,458,954 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Gilead Sciences during the fourth quarter valued at $207,340,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD traded down $2.31 during mid-day trading on Monday, reaching $106.19. The company had a trading volume of 8,170,901 shares, compared to its average volume of 7,663,618. Gilead Sciences, Inc. has a 52-week low of $66.01 and a 52-week high of $119.96. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $132.09 billion, a P/E ratio of 22.36, a PEG ratio of 0.70 and a beta of 0.29. The stock has a 50 day moving average of $106.16 and a two-hundred day moving average of $102.88.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the prior year, the business posted ($1.32) earnings per share. Gilead Sciences's revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.98%. Gilead Sciences's dividend payout ratio is currently 66.53%.

Insider Activity

In related news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the sale, the insider now owns 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $99.82, for a total value of $249,550.00. Following the completion of the sale, the chief financial officer now owns 165,674 shares in the company, valued at $16,537,578.68. This represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,500 shares of company stock valued at $5,236,245. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Bank of America raised their price objective on Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their target price on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald started coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.55.

Gilead Sciences Company 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.