Procyon Private Wealth Partners LLC raised its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 59.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,726 shares of the biopharmaceutical company’s stock after buying an additional 8,130 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in Gilead Sciences were worth $1,518,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Gilead Sciences by 138.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 394 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 229 shares during the last quarter. Sawyer & Company Inc bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at approximately $28,000. Samalin Investment Counsel LLC bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at approximately $58,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at approximately $59,000. 78.05% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on GILD. SVB Leerink decreased their price target on shares of Gilead Sciences from $77.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. BMO Capital Markets raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $72.00 to $85.00 in a report on Thursday, November 18th. Royal Bank of Canada reiterated a “buy” rating and set a C$84.00 target price on shares of Gilead Sciences in a research report on Monday, August 23rd. Zacks Investment Research upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating and set a $72.00 target price on the stock in a research report on Tuesday, August 10th. Finally, Morgan Stanley lifted their target price on shares of Gilead Sciences from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 12th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Buy” and an average price target of $117.07.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, October 28th. The biopharmaceutical company reported $2.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.93. The firm had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.31 billion. Gilead Sciences had a net margin of 26.91% and a return on equity of 56.59%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.11 EPS. Analysts forecast that Gilead Sciences, Inc. will post 7.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 30th. Stockholders of record on Wednesday, December 15th will be paid a $0.71 dividend. The ex-dividend date is Tuesday, December 14th. This represents a $2.84 annualized dividend and a dividend yield of 4.05%. Gilead Sciences’s dividend payout ratio is currently 48.46%.
Gilead Sciences Profile
Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.
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