EP Wealth Advisors LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 113,192 shares of the biopharmaceutical company’s stock, valued at approximately $14,301,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. BlackRock Inc. purchased a new position in shares of Gilead Sciences during the 2nd quarter valued at about $15,393,785,000. Vanguard Group Inc. lifted its position in Gilead Sciences by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company’s stock worth $14,863,487,000 after buying an additional 2,113,692 shares during the last quarter. State Street Corp boosted its stake in Gilead Sciences by 1.9% in the fourth quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company’s stock worth $7,393,921,000 after buying an additional 1,151,213 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Gilead Sciences by 4.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company’s stock worth $3,399,734,000 after buying an additional 1,195,269 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Gilead Sciences by 15.2% during the fourth quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock valued at $2,837,948,000 after acquiring an additional 3,046,688 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on GILD. Leerink Partners lowered shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $146.00 to $127.00 in a report on Tuesday, July 21st. HSBC raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and increased their target price for the company from $133.00 to $155.00 in a report on Monday, July 6th. Wall Street Zen upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Royal Bank Of Canada boosted their price target on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Finally, Barclays cut their price target on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $158.04.
Insider Activity
In related news, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $137.64, for a total value of $3,853,920.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through 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 firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the sale, the director directly owned 10,066 shares in the company, valued at $1,459,771.32. The trade was a 33.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 87,000 shares of company stock worth $11,562,960 over the last ninety days. 0.30% of the stock is owned by insiders.
Gilead Sciences Stock Performance
NASDAQ:GILD opened at $146.12 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27. Gilead Sciences, Inc. has a fifty-two week low of $108.46 and a fifty-two week high of $157.29. The firm has a market cap of $181.18 billion, a PE ratio of -54.73 and a beta of 0.32. The business has a 50 day moving average price of $131.97 and a 200-day moving average price of $136.59.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last issued its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping the consensus estimate 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 company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts predict that Gilead Sciences, Inc. will post -0.51 earnings per share for the current year.
Gilead Sciences Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.
Gilead Sciences 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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