Permit Capital LLC Holds Position in Gilead Sciences, Inc. (GILD)

Permit Capital LLC held its position in Gilead Sciences, Inc. (NASDAQ:GILD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,700 shares of the biopharmaceutical company’s stock at the end of the 2nd quarter. Gilead Sciences accounts for approximately 1.4% of Permit Capital LLC’s investment portfolio, making the stock its 15th largest position. Permit Capital LLC’s holdings in Gilead Sciences were worth $2,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in shares of Gilead Sciences by 35.0% in the second quarter. Renaissance Technologies LLC now owns 10,407,848 shares of the biopharmaceutical company’s stock worth $736,667,000 after acquiring an additional 2,700,600 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Gilead Sciences by 2.4% in the second quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock worth $6,571,355,000 after acquiring an additional 2,148,697 shares in the last quarter. BlackRock Inc. increased its position in shares of Gilead Sciences by 1.9% in the second quarter. BlackRock Inc. now owns 104,906,494 shares of the biopharmaceutical company’s stock worth $7,425,281,000 after acquiring an additional 1,937,031 shares in the last quarter. Pioneer Investment Management Inc. increased its position in shares of Gilead Sciences by 84.0% in the second quarter. Pioneer Investment Management Inc. now owns 3,493,148 shares of the biopharmaceutical company’s stock worth $247,245,000 after acquiring an additional 1,595,085 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Gilead Sciences by 90.9% in the second quarter. Neuberger Berman Group LLC now owns 2,583,196 shares of the biopharmaceutical company’s stock worth $182,839,000 after acquiring an additional 1,229,916 shares in the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.

Gilead Sciences, Inc. (NASDAQ:GILD) opened at $73.29 on Thursday. Gilead Sciences, Inc. has a 1 year low of $63.76 and a 1 year high of $86.27. The company has a market cap of $95,736.46, a P/E ratio of 7.65, a P/E/G ratio of -1.23 and a beta of 1.13. The company has a current ratio of 3.68, a quick ratio of 3.56 and a debt-to-equity ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.14. The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.40 billion. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The firm’s revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 earnings per share. equities analysts anticipate that Gilead Sciences, Inc. will post 8.53 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.84%. The ex-dividend date is Thursday, December 14th. Gilead Sciences’s dividend payout ratio is 23.69%.

GILD has been the topic of several analyst reports. TheStreet raised shares of Gilead Sciences from a “c+” rating to a “b-” rating in a research report on Thursday, September 7th. Deutsche Bank reissued a “buy” rating and issued a $81.00 target price on shares of Gilead Sciences in a research report on Thursday, August 31st. Credit Suisse Group set a $79.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Monday, August 28th. Argus raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Thursday, August 31st. Finally, Berenberg Bank set a $86.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $85.22.

In other Gilead Sciences news, EVP Gregg H. Alton sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $74.64, for a total value of $1,119,600.00. Following the completion of the sale, the executive vice president now directly owns 70,988 shares of the company’s stock, valued at $5,298,544.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John F. Milligan sold 220,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $72.88, for a total transaction of $16,033,600.00. The disclosure for this sale can be found here. Insiders sold 494,999 shares of company stock valued at $37,404,139 over the last three months. 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.

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

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