Bowling Portfolio Management LLC cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,613 shares of the biopharmaceutical company’s stock after selling 837 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Gilead Sciences were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. TB Alternative Assets Ltd. bought a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $2,588,000. Greylin Investment Mangement Inc. bought a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $1,226,000. Coastline Trust Co bought a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $340,000. St. Johns Investment Management Company LLC lifted its holdings in shares of Gilead Sciences by 7.9% in the 1st quarter. St. Johns Investment Management Company LLC now owns 3,822 shares of the biopharmaceutical company’s stock worth $260,000 after acquiring an additional 281 shares during the last quarter. Finally, NewSquare Capital LLC lifted its holdings in shares of Gilead Sciences by 2,098.6% in the 1st quarter. NewSquare Capital LLC now owns 12,752 shares of the biopharmaceutical company’s stock worth $866,000 after acquiring an additional 12,172 shares during the last quarter. Institutional investors and hedge funds own 74.05% of the company’s stock.
In related news, EVP Gregg H. Alton sold 5,000 shares of Gilead Sciences stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $71.06, for a total transaction of $355,300.00. Following the completion of the sale, the executive vice president now owns 102,988 shares of the company’s stock, valued at $7,318,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John C. Martin sold 73,333 shares of Gilead Sciences stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $71.00, for a total value of $5,206,643.00. Following the sale, the insider now directly owns 3,199,969 shares of the company’s stock, valued at approximately $227,197,799. The disclosure for this sale can be found here. Insiders have sold 466,819 shares of company stock worth $36,740,240 in the last 90 days. Insiders own 1.30% of the company’s stock.
A number of brokerages have recently weighed in on GILD. BidaskClub lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Argus upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Thursday, August 31st. Vetr downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $82.15 target price on the stock. in a research note on Monday, August 28th. Cowen and Company reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Gilead Sciences in a research note on Wednesday, July 5th. Finally, Wells Fargo & Company lifted their target price on shares of Gilead Sciences from $73.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 6th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Gilead Sciences presently has an average rating of “Buy” and an average price target of $83.06.
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Gilead Sciences, Inc. (GILD) opened at 82.28 on Friday. The firm’s 50-day moving average is $76.95 and its 200 day moving average is $70.12. The company has a market cap of $107.45 billion, a PE ratio of 8.94 and a beta of 1.19. Gilead Sciences, Inc. has a 1-year low of $63.76 and a 1-year high of $86.27.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the previous year, the firm earned $3.08 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. Analysts predict that Gilead Sciences, Inc. will post $8.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.53%. Gilead Sciences’s payout ratio is 22.58%.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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