Sterneck Capital Management LLC lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 75.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,932 shares of the biopharmaceutical company’s stock after buying an additional 28,767 shares during the quarter. Gilead Sciences comprises approximately 2.7% of Sterneck Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding. Sterneck Capital Management LLC’s holdings in Gilead Sciences were worth $4,546,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. Berkshire Asset Management LLC PA acquired a new position in shares of Gilead Sciences in the first quarter valued at approximately $270,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Gilead Sciences in the first quarter valued at approximately $943,000. Portland Global Advisors LLC boosted its holdings in shares of Gilead Sciences by 5.8% in the first quarter. Portland Global Advisors LLC now owns 3,678 shares of the biopharmaceutical company’s stock valued at $250,000 after buying an additional 200 shares during the period. Howland Capital Management LLC boosted its holdings in shares of Gilead Sciences by 0.3% in the first quarter. Howland Capital Management LLC now owns 256,469 shares of the biopharmaceutical company’s stock valued at $17,419,000 after buying an additional 889 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its holdings in shares of Gilead Sciences by 19.8% in the first quarter. Farmers & Merchants Investments Inc. now owns 17,566 shares of the biopharmaceutical company’s stock valued at $1,193,000 after buying an additional 2,901 shares during the period. Hedge funds and other institutional investors own 73.97% of the company’s stock.
In related news, EVP Gregg H. Alton sold 5,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $71.06, for a total value of $355,300.00. Following the completion of the transaction, the executive vice president now owns 102,988 shares of the company’s stock, valued at approximately $7,318,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robin L. Washington sold 51,820 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $85.00, for a total value of $4,404,700.00. Following the transaction, the chief financial officer now directly owns 43,352 shares of the company’s stock, valued at approximately $3,684,920. The disclosure for this sale can be found here. Insiders sold 466,819 shares of company stock worth $36,740,240 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Shares of Gilead Sciences, Inc. (GILD) opened at 83.27 on Monday. Gilead Sciences, Inc. has a 52-week low of $63.76 and a 52-week high of $86.27. The firm has a market cap of $108.74 billion, a P/E ratio of 9.04 and a beta of 1.19. The company has a 50-day moving average of $77.54 and a 200 day moving average of $70.38.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the previous year, the business earned $3.08 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities analysts expect that Gilead Sciences, Inc. will post $8.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 annualized dividend and a yield of 2.50%. Gilead Sciences’s payout ratio is presently 22.58%.
A number of brokerages have recently commented on GILD. Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Tuesday, July 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $82.00 price target (up from $72.00) on shares of Gilead Sciences in a research report on Thursday, July 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $87.00 price target on shares of Gilead Sciences in a research report on Thursday, July 13th. BidaskClub upgraded shares of Gilead Sciences from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, Leerink Swann reiterated a “market perform” rating on shares of Gilead Sciences in a report on Thursday, June 22nd. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $84.29.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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