Prentiss Smith & Co. Inc. Acquires New Position in Gilead Sciences, Inc. (GILD)

Prentiss Smith & Co. Inc. acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,018 shares of the biopharmaceutical company’s stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GILD. Parnassus Investments CA boosted its stake in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after acquiring an additional 4,556,901 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock worth $2,076,368,000 after acquiring an additional 2,727,063 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Gilead Sciences by 75.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,549,292 shares of the biopharmaceutical company’s stock worth $173,148,000 after acquiring an additional 1,092,206 shares during the period. AQR Capital Management LLC boosted its stake in shares of Gilead Sciences by 25.7% in the first quarter. AQR Capital Management LLC now owns 5,213,046 shares of the biopharmaceutical company’s stock worth $354,070,000 after acquiring an additional 1,066,172 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Gilead Sciences by 26.9% in the first quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock worth $317,059,000 after acquiring an additional 989,400 shares during the period. 73.97% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the company. ValuEngine raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. TheStreet raised Gilead Sciences from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Zacks Investment Research lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Vetr lowered Gilead Sciences from a “buy” rating to a “hold” rating and set a $86.44 price objective for the company. in a research note on Monday, September 4th. Finally, Wells Fargo & Company upped their price objective on 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 analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Gilead Sciences currently has an average rating of “Buy” and an average price target of $83.79.

Shares of Gilead Sciences, Inc. (GILD) traded up 0.90% on Monday, reaching $83.10. The company had a trading volume of 3,149,243 shares. Gilead Sciences, Inc. has a 1-year low of $63.76 and a 1-year high of $86.27. The stock has a market capitalization of $108.52 billion, a P/E ratio of 9.03 and a beta of 1.19. The company’s 50 day moving average price is $77.16 and its 200-day moving average price is $70.20.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the company earned $3.08 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. Equities analysts predict that Gilead Sciences, Inc. will post $8.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, September 14th. Gilead Sciences’s dividend payout ratio is currently 22.58%.

In other news, EVP James R. Meyers sold 60,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $83.19, for a total transaction of $4,991,400.00. Following the sale, the executive vice president now owns 62,715 shares of the company’s stock, valued at $5,217,260.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction on 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 in the company, 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 ninety days. Corporate insiders own 1.30% of the company’s stock.

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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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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