Tritonpoint Wealth LLC Increases Position in Gilead Sciences, Inc. (NASDAQ:GILD)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC purchased a new stake in shares of Gilead Sciences during the second quarter valued at $254,000. Quarry LP purchased a new position in shares of Gilead Sciences in the second quarter worth about $43,000. Centaurus Financial Inc. lifted its holdings in shares of Gilead Sciences by 12.4% during the second quarter. Centaurus Financial Inc. now owns 4,798 shares of the biopharmaceutical company’s stock worth $329,000 after purchasing an additional 529 shares during the period. AMF Tjanstepension AB boosted its position in Gilead Sciences by 14.7% in the third 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 last quarter. Finally, Czech National Bank increased its holdings in Gilead Sciences by 6.8% in the 3rd quarter. Czech National Bank now owns 253,618 shares of the biopharmaceutical company’s stock worth $21,263,000 after buying an additional 16,209 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the sale, the director now owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 456,234 shares of company stock worth $42,130,461 over the last 90 days. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Trading Up 0.3 %

Shares of GILD stock opened at $97.20 on Monday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a 50 day moving average price of $92.42 and a 200 day moving average price of $85.87. The stock has a market capitalization of $121.14 billion, a P/E ratio of 1,080.00, a price-to-earnings-growth ratio of 1.34 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Equities research analysts predict that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on GILD. JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Bank of America reaffirmed a “buy” rating and set a $109.00 price target on shares of Gilead Sciences in a research report on Tuesday, December 10th. UBS Group boosted their price objective on Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Truist Financial raised their target price on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target for the company. Eleven research 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, the company presently has a consensus rating of “Moderate Buy” and an average 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.