Riverhead Capital Management LLC trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,965 shares of the biopharmaceutical company’s stock after selling 9,074 shares during the period. Riverhead Capital Management LLC’s holdings in Gilead Sciences were worth $7,925,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Coastline Trust Co boosted its stake in Gilead Sciences by 22.4% in the second quarter. Coastline Trust Co now owns 6,125 shares of the biopharmaceutical company’s stock valued at $434,000 after acquiring an additional 1,120 shares in the last quarter. Oak Ridge Investments LLC boosted its stake in Gilead Sciences by 5.3% in the second quarter. Oak Ridge Investments LLC now owns 85,509 shares of the biopharmaceutical company’s stock valued at $6,052,000 after acquiring an additional 4,284 shares in the last quarter. Dai Ichi Life Insurance Company Ltd boosted its stake in Gilead Sciences by 7.6% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 160,025 shares of the biopharmaceutical company’s stock valued at $11,327,000 after acquiring an additional 11,299 shares in the last quarter. Weatherstone Capital Management boosted its stake in Gilead Sciences by 22.1% in the second quarter. Weatherstone Capital Management now owns 5,474 shares of the biopharmaceutical company’s stock valued at $387,000 after acquiring an additional 989 shares in the last quarter. Finally, Vantage Investment Advisors LLC boosted its stake in Gilead Sciences by 6.4% in the second quarter. Vantage Investment Advisors LLC now owns 3,937 shares of the biopharmaceutical company’s stock valued at $264,000 after acquiring an additional 236 shares in the last quarter. Institutional investors own 74.62% of the company’s stock.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) opened at $72.44 on Friday. Gilead Sciences, Inc. has a 52-week low of $63.76 and a 52-week high of $86.27. The stock has a market cap of $94,626.13, a PE ratio of 7.56, a PEG ratio of -1.21 and a beta of 1.13. The company has a debt-to-equity ratio of 1.10, a current ratio of 3.68 and a quick ratio of 3.56.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the business earned $2.75 earnings per share. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. sell-side analysts forecast that Gilead Sciences, Inc. will post 8.53 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.87%. Gilead Sciences’s dividend payout ratio (DPR) is 23.69%.
GILD has been the subject of several recent analyst reports. Berenberg Bank set a $96.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Thursday, October 19th. Royal Bank Of Canada initiated coverage on shares of Gilead Sciences in a research note on Thursday, September 14th. They issued an “outperform” rating and a $94.00 target price for the company. J P Morgan Chase & Co set a $85.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Wednesday, October 25th. Robert W. Baird reiterated an “outperform” rating and set a $87.00 price objective on shares of Gilead Sciences in a research note on Tuesday, August 29th. Finally, Zacks Investment Research upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $84.87.
In other news, EVP Gregg H. Alton sold 25,000 shares of Gilead Sciences stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $83.05, for a total value of $2,076,250.00. Following the sale, the executive vice president now owns 101,488 shares in the company, valued at $8,428,578.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregg H. Alton sold 50,000 shares of Gilead Sciences stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $79.00, for a total transaction of $3,950,000.00. Following the completion of the sale, the executive vice president now owns 113,237 shares in the company, valued at approximately $8,945,723. The disclosure for this sale can be found here. In the last quarter, insiders sold 666,819 shares of company stock worth $52,303,086. Company insiders own 1.30% of the company’s stock.
About Gilead Sciences
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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