Cinctive Capital Management LP Decreases Stake in Gilead Sciences, Inc. $GILD

Key Points

• Cinctive Capital Management LP significantly reduced its holdings in Gilead Sciences by 87.5%, owning 13,202 shares after selling 92,520 shares in Q1, valuing its investment at approximately $1.48 million.
• Analysts have increased their price targets for Gilead Sciences: Royal Bank of Canada raised it to $98, while Truist Financial set it at $127, indicating a consensus rating of "Moderate Buy" with an average price target of $115.39.
• Gilead announced a quarterly dividend of $0.79, representing a yield of 2.8%, with a payout ratio of 62.95%, payable on September 29th to shareholders on record as of September 15th.

Cinctive Capital Management LP reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 87.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,202 shares of the biopharmaceutical company's stock after selling 92,520 shares during the period. Cinctive Capital Management LP's holdings in Gilead Sciences were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redwood Financial Network Corp grew its holdings in Gilead Sciences by 4.0% in the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after buying an additional 98 shares in the last quarter. Argentarii LLC increased its stake in Gilead Sciences by 3.0% during the first quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock worth $380,000 after acquiring an additional 99 shares during the last quarter. Peak Financial Advisors LLC grew its holdings in shares of Gilead Sciences by 1.7% during the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after purchasing an additional 100 shares during the period. Perkins Coie Trust Co raised its holdings in Gilead Sciences by 2.6% in the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock valued at $435,000 after buying an additional 100 shares during the period. Finally, Investment Research & Advisory Group Inc. boosted its stake in Gilead Sciences by 33.3% during the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 100 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the completion of the sale, the insider directly owned 114,168 shares of the company's stock, valued at $13,532,333.04. This trade represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $296,325.00. Following the transaction, the chief financial officer owned 160,110 shares of the company's stock, valued at approximately $18,977,838.30. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,000 shares of company stock worth $9,371,330. Insiders own 0.27% of the company's stock.

Gilead Sciences Stock Down 0.1%

NASDAQ:GILD traded down $0.12 during midday trading on Tuesday, hitting $115.76. 5,243,119 shares of the company were exchanged, compared to its average volume of 8,131,320. Gilead Sciences, Inc. has a fifty-two week low of $78.73 and a fifty-two week high of $121.83. The company has a market capitalization of $143.64 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 0.78 and a beta of 0.36. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. The company has a fifty day simple moving average of $113.69 and a 200 day simple moving average of $109.95.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The business's revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. Gilead Sciences's dividend payout ratio (DPR) is currently 62.95%.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of research analyst reports. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research note on Friday, July 25th. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and upped their price target for the stock from $108.00 to $127.00 in a research note on Friday, August 8th. Daiwa Capital Markets upgraded Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target for the company in a research report on Tuesday, August 19th. Dbs Bank upgraded Gilead Sciences to a "moderate buy" rating in a report on Friday. Finally, Daiwa America raised Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $115.39.

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.