Tritonpoint Wealth LLC Grows Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Tritonpoint Wealth LLC lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,266 shares of the biopharmaceutical company’s stock after purchasing an additional 381 shares during the period. Tritonpoint Wealth LLC’s holdings in Gilead Sciences were worth $579,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GILD. FMR LLC boosted its holdings in Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after buying an additional 14,680,161 shares during the period. Wellington Management Group LLP boosted its position in shares of Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after acquiring an additional 11,665,593 shares during the period. Pacer Advisors Inc. grew its stake in Gilead Sciences by 723.3% during the fourth quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock valued at $594,370,000 after acquiring an additional 5,653,075 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Gilead Sciences by 350.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after acquiring an additional 1,793,145 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after purchasing an additional 1,622,806 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.3 %

Shares of Gilead Sciences stock opened at $97.20 on Monday. The company’s 50 day moving average price is $92.42 and its 200-day moving average price is $85.87. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. 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 capitalization of $121.14 billion, a price-to-earnings ratio of 1,080.00, a P/E/G ratio of 1.34 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its 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. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same period in the prior year, the business posted $2.29 earnings per share. Gilead Sciences’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts forecast that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 164,211 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 456,234 shares of company stock valued at $42,130,461 over the last quarter. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GILD. Mizuho upped their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. The Goldman Sachs Group upped their target price on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Citigroup started coverage on Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 price target for the company. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, BMO Capital Markets raised their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.39.

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.