Letko Brosseau & Associates Inc. reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,378,020 shares of the biopharmaceutical company’s stock after selling 40,561 shares during the period. Letko Brosseau & Associates Inc. owned approximately 0.11% of Gilead Sciences worth $93,099,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GILD. Mercer Global Advisors Inc. ADV bought a new stake in shares of Gilead Sciences during the 1st quarter worth $2,305,000. Centric Wealth Management bought a new stake in shares of Gilead Sciences during the 2nd quarter worth $216,000. Regentatlantic Capital LLC lifted its holdings in shares of Gilead Sciences by 26.4% during the 1st quarter. Regentatlantic Capital LLC now owns 42,596 shares of the biopharmaceutical company’s stock worth $2,769,000 after acquiring an additional 8,886 shares during the last quarter. Private Trust Co. NA bought a new stake in shares of Gilead Sciences during the 2nd quarter worth $203,000. Finally, PICTET BANK & TRUST Ltd bought a new stake in shares of Gilead Sciences during the 1st quarter worth $260,000. Hedge funds and other institutional investors own 78.87% of the company’s stock.
In related news, EVP Brett A. Pletcher sold 5,816 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $68.75, for a total transaction of $399,850.00. Following the transaction, the executive vice president now owns 27,198 shares in the company, valued at $1,869,862.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brett A. Pletcher sold 7,200 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $65.07, for a total transaction of $468,504.00. Following the transaction, the executive vice president now owns 34,398 shares in the company, valued at approximately $2,238,277.86. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
Shares of NASDAQ:GILD traded up $0.04 during midday trading on Thursday, hitting $63.16. 2,043,494 shares of the stock traded hands, compared to its average volume of 6,220,770. The stock has a market cap of $81.03 billion, a PE ratio of 10.27, a PEG ratio of 3.04 and a beta of 1.16. The stock’s 50 day simple moving average is $66.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 3.76 and a quick ratio of 3.67. Gilead Sciences, Inc. has a one year low of $60.32 and a one year high of $79.61.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.68 by $0.14. The firm had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.54 billion. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.91 earnings per share. Sell-side analysts expect that Gilead Sciences, Inc. will post 6.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Thursday, September 12th. Gilead Sciences’s dividend payout ratio (DPR) is 40.98%.
A number of research firms have recently issued reports on GILD. Zacks Investment Research downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Evercore ISI reaffirmed a “buy” rating on shares of Gilead Sciences in a report on Friday, May 17th. BMO Capital Markets set a $82.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Wednesday, July 31st. Goldman Sachs Group downgraded shares of Gilead Sciences from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $70.00 to $60.00 in a report on Tuesday, May 28th. Finally, Citigroup set a $78.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Gilead Sciences has a consensus rating of “Buy” and an average price target of $82.29.
Gilead Sciences Company 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.
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