Provident Investment Management Inc. Sells 27,601 Shares of Gilead Sciences, Inc. (GILD)

Provident Investment Management Inc. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 374,686 shares of the biopharmaceutical company’s stock after selling 27,601 shares during the quarter. Gilead Sciences makes up about 4.2% of Provident Investment Management Inc.’s investment portfolio, making the stock its 12th largest position. Provident Investment Management Inc.’s holdings in Gilead Sciences were worth $23,437,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Athena Capital Advisors LLC bought a new stake in Gilead Sciences in the fourth quarter valued at about $27,000. Advisors Preferred LLC bought a new stake in Gilead Sciences in the fourth quarter valued at about $31,000. Legacy Financial Advisors Inc. increased its holdings in Gilead Sciences by 361.3% in the fourth quarter. Legacy Financial Advisors Inc. now owns 489 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 383 shares during the last quarter. We Are One Seven LLC bought a new stake in Gilead Sciences in the fourth quarter valued at about $37,000. Finally, Larson Financial Group LLC bought a new stake in Gilead Sciences in the fourth quarter valued at about $38,000. Institutional investors own 77.76% of the company’s stock.

In related news, Director Gayle E. Wilson sold 19,068 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $67.08, for a total transaction of $1,279,081.44. Following the sale, the director now owns 143,567 shares in the company, valued at $9,630,474.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.16% of the company’s stock.

A number of equities research analysts recently commented on GILD shares. Raymond James set a $94.00 price objective on Gilead Sciences and gave the company a “buy” rating in a report on Thursday, December 20th. Guggenheim started coverage on Gilead Sciences in a report on Monday, December 17th. They issued a “buy” rating and a $86.00 price objective for the company. BidaskClub upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a report on Tuesday, December 4th. Citigroup reiterated a “buy” rating and issued a $100.00 price objective on shares of Gilead Sciences in a report on Tuesday, February 5th. Finally, Maxim Group set a $84.00 target price on Gilead Sciences and gave the company a “buy” rating in a research note on Tuesday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $82.56.

GILD stock opened at $63.23 on Monday. The company has a quick ratio of 3.29, a current ratio of 3.36 and a debt-to-equity ratio of 1.09. The stock has a market cap of $81.80 billion, a PE ratio of 10.28, a PEG ratio of 4.14 and a beta of 1.19. Gilead Sciences, Inc. has a fifty-two week low of $60.32 and a fifty-two week high of $82.71.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Monday, February 4th. The biopharmaceutical company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.26). The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.52 billion. Gilead Sciences had a return on equity of 37.03% and a net margin of 24.65%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.78 earnings per share. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 6.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.99%. The ex-dividend date is Thursday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.57. Gilead Sciences’s dividend payout ratio is presently 37.07%.

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About Gilead Sciences

Gilead Sciences, Inc discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.

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

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