King Luther Capital Management Corp lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 8,521 shares of the biopharmaceutical company’s stock after selling 480 shares during the quarter. King Luther Capital Management Corp’s holdings in Gilead Sciences were worth $554,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Lenox Wealth Management Inc. boosted its holdings in shares of Gilead Sciences by 1.8% during the 1st quarter. Lenox Wealth Management Inc. now owns 9,059 shares of the biopharmaceutical company’s stock valued at $589,000 after purchasing an additional 156 shares during the last quarter. Vectors Research Management LLC boosted its holdings in shares of Gilead Sciences by 6.3% during the 4th quarter. Vectors Research Management LLC now owns 2,651 shares of the biopharmaceutical company’s stock valued at $166,000 after purchasing an additional 157 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Gilead Sciences by 55.9% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 460 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 165 shares during the last quarter. Rathbone Brothers plc boosted its holdings in shares of Gilead Sciences by 3.1% during the 1st quarter. Rathbone Brothers plc now owns 5,547 shares of the biopharmaceutical company’s stock valued at $361,000 after purchasing an additional 167 shares during the last quarter. Finally, Somerset Trust Co boosted its holdings in shares of Gilead Sciences by 1.4% during the 1st quarter. Somerset Trust Co now owns 13,437 shares of the biopharmaceutical company’s stock valued at $874,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.
Gilead Sciences stock opened at $66.99 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.53 and a current ratio of 3.62. Gilead Sciences, Inc. has a 1-year low of $60.32 and a 1-year high of $79.61. The stock has a market capitalization of $85.14 billion, a P/E ratio of 10.89, a PEG ratio of 0.64 and a beta of 1.10.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.23. Gilead Sciences had a net margin of 26.40% and a return on equity of 37.98%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the company posted $1.48 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that Gilead Sciences, Inc. will post 6.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Thursday, June 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 40.98%.
In related news, Director Richard James Whitley sold 9,534 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $65.48, for a total value of $624,286.32. Following the sale, the director now directly owns 34,669 shares of the company’s stock, valued at approximately $2,270,126.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Francis Cogan sold 2,700 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $64.14, for a total transaction of $173,178.00. Following the completion of the sale, the director now directly owns 57,560 shares in the company, valued at $3,691,898.40. The disclosure for this sale can be found here. Insiders sold a total of 28,602 shares of company stock worth $1,863,445 over the last three months. 0.20% of the stock is currently owned by corporate insiders.
A number of research analysts recently commented on the stock. BidaskClub downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, June 5th. Goldman Sachs Group downgraded shares of Gilead Sciences from a “neutral” rating to a “sell” rating and lowered their price target for the company from $70.00 to $60.00 in a report on Tuesday, May 28th. Citigroup raised shares of Gilead Sciences from a “neutral” rating to a “buy” rating and set a $66.80 price target for the company in a report on Wednesday, May 22nd. Credit Suisse Group assumed coverage on shares of Gilead Sciences in a report on Monday, May 20th. They issued a “neutral” rating and a $70.00 price target for the company. Finally, Mizuho set a $88.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $79.54.
Gilead Sciences Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
Recommended Story: Portfolio Manager
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.