TRB Wealth Management LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) during the second quarter, HoldingsChannel reports. The fund acquired 4,540 shares of the biopharmaceutical company’s stock, valued at approximately $574,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Aviva PLC raised its stake in Gilead Sciences by 5.4% in the fourth quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company’s stock valued at $141,978,000 after purchasing an additional 59,782 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new stake in Gilead Sciences during the fourth quarter worth about $1,418,000. NBC Securities Inc. grew its stake in Gilead Sciences by 150.3% during the fourth quarter. NBC Securities Inc. now owns 17,147 shares of the biopharmaceutical company’s stock worth $2,105,000 after buying an additional 10,296 shares in the last quarter. Flputnam Investment Management Co. grew its stake in Gilead Sciences by 66.5% during the fourth quarter. Flputnam Investment Management Co. now owns 105,740 shares of the biopharmaceutical company’s stock worth $12,978,000 after buying an additional 42,243 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its holdings in Gilead Sciences by 14.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 106,526 shares of the biopharmaceutical company’s stock valued at $13,075,000 after buying an additional 13,385 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.
Insider Activity at Gilead Sciences
In other Gilead Sciences news, CEO Daniel Patrick O’day sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total value of $1,954,650.00. Following the sale, the chief executive officer owned 592,133 shares in the company, valued at $77,160,851.23. This trade represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the sale, the director directly owned 10,066 shares in the company, valued at approximately $1,459,771.32. The trade was a 33.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,000 shares of company stock worth $11,562,960 in the last 90 days. 0.30% of the stock is currently owned by company insiders.
Gilead Sciences Stock Up 1.9%
Gilead Sciences (NASDAQ:GILD – Get Free Report) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The firm had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter in the prior year, the business earned $2.01 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts forecast that Gilead Sciences, Inc. will post -0.51 earnings per share for the current fiscal year.
Gilead Sciences Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.2%. Gilead Sciences’s dividend payout ratio is presently -122.85%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on GILD. Daiwa Securities Group dropped their target price on shares of Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, May 19th. Maxim Group upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. HSBC upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and boosted their price objective for the company from $133.00 to $155.00 in a research report on Monday, July 6th. Finally, Weiss Ratings cut Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Twenty-four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.04.
Get Our Latest Stock Report on Gilead Sciences
Gilead Sciences Company Profile
Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.
Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.
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