Cornerstone Capital Management Holdings LLC. cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 756,753 shares of the biopharmaceutical company’s stock after selling 62,966 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Gilead Sciences were worth $61,310,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Welch Investments LLC bought a new position in shares of Gilead Sciences during the 3rd quarter valued at approximately $108,000. Horan Capital Advisors LLC. bought a new position in Gilead Sciences in the 3rd quarter worth approximately $144,000. Hanson & Doremus Investment Management boosted its stake in Gilead Sciences by 806.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 1,613 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Gilead Sciences in the 2nd quarter worth approximately $147,000. Finally, Rational Advisors LLC bought a new position in Gilead Sciences in the 3rd quarter worth approximately $170,000. Institutional investors own 75.84% of the company’s stock.
In other news, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $74.64, for a total transaction of $1,119,600.00. Following the sale, the executive vice president now directly owns 70,988 shares of the company’s stock, valued at approximately $5,298,544.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregg H. Alton sold 30,000 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $79.00, for a total value of $2,370,000.00. Following the sale, the executive vice president now owns 57,114 shares in the company, valued at approximately $4,512,006. The disclosure for this sale can be found here. Insiders have sold a total of 578,333 shares of company stock worth $44,100,508 over the last ninety days. Insiders own 1.30% of the company’s stock.
Several research analysts have weighed in on GILD shares. JPMorgan Chase & Co. set a $85.00 price target on Gilead Sciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. BMO Capital Markets restated a “hold” rating and issued a $82.00 price target on shares of Gilead Sciences in a research note on Friday, October 20th. Citigroup upgraded Gilead Sciences from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $88.80 to $76.00 in a research note on Tuesday, January 30th. Vetr downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $90.00 price target for the company. in a research note on Wednesday, January 17th. Finally, Zacks Investment Research downgraded Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $85.58.
Shares of Gilead Sciences, Inc. (NASDAQ GILD) opened at $78.37 on Tuesday. The stock has a market capitalization of $106,761.38, a P/E ratio of 8.53, a PEG ratio of -1.80 and a beta of 1.22. Gilead Sciences, Inc. has a twelve month low of $63.76 and a twelve month high of $89.54. The company has a current ratio of 3.68, a quick ratio of 3.56 and a debt-to-equity ratio of 1.10.
COPYRIGHT VIOLATION WARNING: This story was first published by Stock Observer and is the sole property of of Stock Observer. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.thestockobserver.com/2018/02/06/cornerstone-capital-management-holdings-llc-sells-62966-shares-of-gilead-sciences-inc-gild.html.
Gilead Sciences Company Profile
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.
Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD).
Receive News & Ratings for Gilead Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences and related companies with MarketBeat.com's FREE daily email newsletter.