Byrne Asset Management LLC Has $298,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Byrne Asset Management LLC decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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.

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

Gilead Sciences Trading Down 2.0 %

Shares of GILD stock opened at $96.04 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $119.69 billion, a P/E ratio of 1,067.11, a P/E/G ratio of 1.37 and a beta of 0.18. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $100.51. The firm has a 50-day moving average price of $92.97 and a 200 day moving average price of $86.49.

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

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the transaction, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. This represents a 67.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 142,180 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the completion of the sale, the chief financial officer now owns 129,873 shares of the company’s stock, valued at $12,626,253.06. The trade was a 52.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 572,824 shares of company stock valued at $53,611,715. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Mizuho upped their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Bank of America restated a “buy” rating and set a $109.00 target price on shares of Gilead Sciences in a research note on Tuesday, December 10th. Finally, Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Eleven 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. According to MarketBeat.com, the company has an average 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.