Western Wealth Management LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,975 shares of the biopharmaceutical company’s stock, valued at approximately $502,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Bancorp Inc ME bought a new position in shares of Gilead Sciences in the second quarter valued at approximately $215,000. Roberts Glore & Co. Inc. IL bought a new stake in Gilead Sciences during the second quarter worth $1,249,000. Jupiter Topco LLC purchased a new position in Gilead Sciences in the second quarter worth $448,021,000. ADAR1 Capital Management LLC purchased a new position in Gilead Sciences in the second quarter worth $587,000. Finally, EFG International AG bought a new position in Gilead Sciences in the 2nd quarter valued at $1,123,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on GILD. Wall Street Zen raised Gilead Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Royal Bank Of Canada boosted their target price on Gilead Sciences from $120.00 to $123.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Daiwa Securities Group dropped their price target on Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 19th. HSBC upgraded Gilead Sciences from a “hold” rating to a “buy” rating and increased their price target for the stock from $133.00 to $155.00 in a research note on Monday, July 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price objective on shares of Gilead Sciences in a research note on Wednesday, August 5th. Twenty-four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.04.
Gilead Sciences Stock Up 1.4%
Shares of NASDAQ GILD opened at $148.77 on Wednesday. Gilead Sciences, Inc. has a 52 week low of $108.46 and a 52 week high of $157.29. The business has a 50-day simple moving average of $132.85 and a two-hundred day simple moving average of $136.59. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market cap of $184.47 billion, a P/E ratio of -55.72 and a beta of 0.32.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share 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 firm had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same period in the prior year, the business posted $2.01 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Research analysts anticipate that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.
Gilead Sciences Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. 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 is -122.85%.
Insider Activity
In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the 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 sale, the insider directly owned 118,234 shares in the company, valued at $16,273,727.76. This represents a 19.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $138.36, for a total transaction of $415,080.00. Following the transaction, the chief financial officer owned 165,646 shares of the company’s stock, valued at $22,918,780.56. This trade represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 87,000 shares of company stock worth $11,562,960. Insiders own 0.30% of the company’s stock.
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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