Byrne Asset Management LLC Trims Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Byrne Asset Management LLC trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,230 shares of the biopharmaceutical company’s stock after selling 290 shares during the quarter. Byrne Asset Management LLC’s holdings in Gilead Sciences were worth $298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB grew its holdings in Gilead Sciences by 14.7% in the 3rd quarter. AMF Tjanstepension AB now owns 400,819 shares of the biopharmaceutical company’s stock valued at $33,645,000 after buying an additional 51,390 shares during the period. Atomi Financial Group Inc. raised its position in shares of Gilead Sciences by 36.0% in the 3rd quarter. Atomi Financial Group Inc. now owns 6,081 shares of the biopharmaceutical company’s stock worth $510,000 after buying an additional 1,610 shares during the period. Marcum Wealth LLC boosted its holdings in Gilead Sciences by 26.6% in the third quarter. Marcum Wealth LLC now owns 5,753 shares of the biopharmaceutical company’s stock valued at $482,000 after acquiring an additional 1,208 shares during the last quarter. Wedmont Private Capital grew its position in Gilead Sciences by 26.5% during the third quarter. Wedmont Private Capital now owns 9,550 shares of the biopharmaceutical company’s stock valued at $806,000 after acquiring an additional 1,998 shares during the period. Finally, San Luis Wealth Advisors LLC raised its holdings in shares of Gilead Sciences by 91.0% in the 3rd quarter. San Luis Wealth Advisors LLC now owns 9,566 shares of the biopharmaceutical company’s stock worth $802,000 after purchasing an additional 4,557 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Bank of America reissued a “buy” rating and issued a $109.00 price objective on shares of Gilead Sciences in a research report on Tuesday, December 10th. BMO Capital Markets upped their target price on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays raised their target price on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Finally, Robert W. Baird lifted their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.39.

Gilead Sciences Trading Down 2.0 %

NASDAQ:GILD opened at $96.04 on Friday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $100.51. The business has a fifty day moving average of $92.97 and a 200-day moving average of $86.49. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The stock has a market cap of $119.69 billion, a price-to-earnings ratio of 1,067.11, a PEG ratio of 1.37 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 EPS. Equities analysts predict that Gilead Sciences, Inc. will post 4.34 earnings per share for the current year.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the sale, the director now directly owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 572,824 shares of company stock worth $53,611,715. 0.29% of the stock is owned by company insiders.

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.