Corient Private Wealth LP acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,481,332 shares of the biopharmaceutical company’s stock, valued at approximately $74,088,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Paulson Wealth Management Inc. boosted its stake in Gilead Sciences by 1.8% during the 4th quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company’s stock valued at $477,000 after purchasing an additional 67 shares in the last quarter. Essex Financial Services Inc. raised its stake in shares of Gilead Sciences by 0.9% in the 4th quarter. Essex Financial Services Inc. now owns 7,724 shares of the biopharmaceutical company’s stock worth $948,000 after buying an additional 71 shares in the last quarter. Davidson Trust Co. lifted its holdings in shares of Gilead Sciences by 4.1% in the first quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 74 shares during the period. Alpha Cubed Investments LLC lifted its holdings in shares of Gilead Sciences by 1.1% in the fourth quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company’s stock valued at $812,000 after buying an additional 75 shares during the period. Finally, Financial Connections Group Inc. boosted its stake in Gilead Sciences by 30.2% during the first quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 76 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on GILD. Leerink Partners cut shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $146.00 to $127.00 in a research report on Tuesday, July 21st. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Daiwa Securities Group lowered their price objective on shares of Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 19th. Maxim Group upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Twenty-four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.04.
Gilead Sciences Stock Performance
Shares of NASDAQ GILD opened at $148.09 on Thursday. The stock’s fifty day simple moving average is $133.31 and its 200 day simple moving average is $136.58. The stock has a market capitalization of $183.62 billion, a price-to-earnings ratio of -55.46 and a beta of 0.32. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a 52-week low of $108.46 and a 52-week high of $157.29.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the prior year, the business posted $2.01 earnings per share. Gilead Sciences’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.
Gilead Sciences Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. Gilead Sciences’s dividend payout ratio is currently -122.85%.
Insider Activity
In other news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the transaction, the insider directly owned 118,234 shares of the company’s stock, valued at $16,273,727.76. This trade represents a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 that occurred on Thursday, August 20th. The shares were sold at an average price of $145.02, for a total transaction of $725,100.00. Following the sale, the director owned 10,066 shares in the company, valued at $1,459,771.32. This represents a 33.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 87,000 shares of company stock valued at $11,562,960. Corporate insiders own 0.30% of the company’s stock.
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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