Arrow Financial Corp lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 48.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,201 shares of the biopharmaceutical company’s stock after selling 8,570 shares during the period. Arrow Financial Corp’s holdings in Gilead Sciences were worth $746,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its holdings in shares of Gilead Sciences by 7,502.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 880,364 shares of the biopharmaceutical company’s stock valued at $71,327,000 after buying an additional 868,784 shares in the last quarter. Balasa Dinverno & Foltz LLC raised its holdings in shares of Gilead Sciences by 17.4% during the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 22,319 shares of the biopharmaceutical company’s stock valued at $1,808,000 after buying an additional 3,311 shares in the last quarter. BerganKDV Wealth Management LLC raised its holdings in shares of Gilead Sciences by 27.8% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 15,592 shares of the biopharmaceutical company’s stock valued at $1,263,000 after buying an additional 3,393 shares in the last quarter. FormulaFolio Investments LLC purchased a new position in shares of Gilead Sciences during the 3rd quarter valued at about $318,000. Finally, Hermes Investment Management Ltd. raised its holdings in shares of Gilead Sciences by 11.2% during the 3rd quarter. Hermes Investment Management Ltd. now owns 20,816 shares of the biopharmaceutical company’s stock valued at $1,687,000 after buying an additional 2,091 shares in the last quarter. 76.23% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on GILD. Argus raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Thursday, August 31st. Vetr cut Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $82.15 price objective on the stock. in a report on Monday, August 28th. Wells Fargo & Company raised their price objective on Gilead Sciences from $73.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, September 6th. Oppenheimer began coverage on Gilead Sciences in a report on Thursday, October 5th. They set a “market perform” rating on the stock. Finally, Credit Suisse Group reissued a “buy” rating and set a $82.00 price objective on shares of Gilead Sciences in a report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.11.
In other news, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $74.82, for a total value of $1,122,300.00. Following the sale, the executive vice president now directly owns 77,363 shares in the company, valued at approximately $5,788,299.66. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John F. Milligan sold 220,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $72.88, for a total value of $16,033,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 494,999 shares of company stock worth $37,404,139. Corporate insiders own 1.30% of the company’s stock.
Gilead Sciences, Inc. (NASDAQ:GILD) opened at $75.57 on Monday. The company has a debt-to-equity ratio of 1.10, a current ratio of 3.68 and a quick ratio of 3.56. The company has a market capitalization of $98,690.00, a P/E ratio of 7.89, a price-to-earnings-growth ratio of -1.27 and a beta of 1.13. Gilead Sciences, Inc. has a 12 month low of $63.76 and a 12 month high of $86.27.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.14. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.40 billion. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The business’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period last year, the company earned $2.75 EPS. equities analysts predict that Gilead Sciences, Inc. will post 8.53 earnings per share for the current fiscal year.
The firm also recently disclosed 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 is Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.75%. Gilead Sciences’s dividend payout ratio is currently 23.66%.
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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