Narwhal Capital Management Acquires 2,855 Shares of Gilead Sciences Inc. (GILD)
Narwhal Capital Management raised its position in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 11.9% during the second quarter, Holdings Channel reports. The institutional investor owned 26,820 shares of the biopharmaceutical company’s stock after buying an additional 2,855 shares during the period. Narwhal Capital Management’s holdings in Gilead Sciences were worth $2,237,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sigma Planning Corp boosted its position in Gilead Sciences by 1.7% in the first quarter. Sigma Planning Corp now owns 24,591 shares of the biopharmaceutical company’s stock worth $2,259,000 after buying an additional 404 shares in the last quarter. Private Trust Co. NA boosted its position in Gilead Sciences by 0.6% in the first quarter. Private Trust Co. NA now owns 25,010 shares of the biopharmaceutical company’s stock worth $2,297,000 after buying an additional 147 shares in the last quarter. Rhenman & Partners Asset Management AB boosted its position in Gilead Sciences by 45.2% in the first quarter. Rhenman & Partners Asset Management AB now owns 180,000 shares of the biopharmaceutical company’s stock worth $16,535,000 after buying an additional 56,000 shares in the last quarter. V Wealth Management LLC acquired a new position in Gilead Sciences during the first quarter worth about $2,443,000. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Gilead Sciences during the first quarter worth about $1,038,000. Hedge funds and other institutional investors own 77.94% of the company’s stock.
Shares of Gilead Sciences Inc. (NASDAQ:GILD) traded down 1.75% during trading on Thursday, reaching $76.21. The company’s stock had a trading volume of 10,168,169 shares. Gilead Sciences Inc. has a 12-month low of $76.07 and a 12-month high of $111.11. The company has a market cap of $100.57 billion, a PE ratio of 6.69 and a beta of 1.10. The company has a 50 day moving average of $79.10 and a 200 day moving average of $85.17.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the consensus estimate of $3.02 by $0.06. The business had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.15 earnings per share. On average, analysts anticipate that Gilead Sciences Inc. will post $11.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s payout ratio is 16.56%.
A number of research analysts have issued reports on GILD shares. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, June 8th. Leerink Swann reissued a “buy” rating and set a $120.00 price target (down from $123.00) on shares of Gilead Sciences in a research note on Thursday, June 9th. Zacks Investment Research lowered Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Monday, June 13th. Jefferies Group reissued a “hold” rating and set a $96.00 price target on shares of Gilead Sciences in a research note on Sunday, June 12th. Finally, Morgan Stanley reissued a “hold” rating and set a $103.00 price target on shares of Gilead Sciences in a research note on Wednesday, June 15th. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $104.71.
In related news, Director Kevin E. Lofton sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $81.97, for a total transaction of $286,895.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregg H. Alton sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $81.84, for a total transaction of $409,200.00. Following the transaction, the executive vice president now directly owns 132,964 shares in the company, valued at approximately $10,881,773.76. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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