CG Asset Management LLC Has $2,636,000 Stake in Gilead Sciences Inc. (GILD)
CG Asset Management LLC decreased its position in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 60.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,605 shares of the biopharmaceutical company’s stock after selling 49,184 shares during the period. CG Asset Management LLC’s holdings in Gilead Sciences were worth $2,636,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Baltimore Washington Financial Advisors Inc. raised its stake in shares of Gilead Sciences by 4.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 45,085 shares of the biopharmaceutical company’s stock worth $3,761,000 after buying an additional 2,111 shares during the last quarter. Crossvault Capital Management LLC raised its stake in shares of Gilead Sciences by 9.5% in the second quarter. Crossvault Capital Management LLC now owns 49,871 shares of the biopharmaceutical company’s stock worth $4,160,000 after buying an additional 4,345 shares during the last quarter. Ariel Capital Advisors LLC raised its position in Gilead Sciences by 13.1% in the second quarter. Ariel Capital Advisors LLC now owns 8,315 shares of the biopharmaceutical company’s stock worth $693,000 after buying an additional 965 shares in the last quarter. Northern Capital Management LLC bought a new position in Gilead Sciences during the second quarter worth approximately $546,000. Finally, First National Trust Co. raised its position in Gilead Sciences by 8.4% in the second quarter. First National Trust Co. now owns 27,039 shares of the biopharmaceutical company’s stock worth $2,255,000 after buying an additional 2,086 shares in the last quarter. 77.93% of the stock is currently owned by hedge funds and other institutional investors.
Gilead Sciences Inc. (NASDAQ:GILD) traded down 0.42% during trading on Friday, reaching $72.75. The company had a trading volume of 7,359,055 shares. Gilead Sciences Inc. has a one year low of $72.21 and a one year high of $111.11. The firm’s 50 day moving average is $77.93 and its 200 day moving average is $84.45. The company has a market capitalization of $96.01 billion, a PE ratio of 6.38 and a beta of 1.10.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.06. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The business had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same period in the previous year, the business earned $3.15 earnings per share. The business’s revenue was down 5.7% on a year-over-year basis. On average, equities research analysts predict that Gilead Sciences Inc. will post $11.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were given a $0.47 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $1.88 annualized dividend and a dividend yield of 2.58%. Gilead Sciences’s payout ratio is 16.56%.
A number of equities analysts recently commented on GILD shares. Jefferies Group lifted their price objective on Gilead Sciences from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, October 5th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Gilead Sciences in a research note on Monday, August 15th. Berenberg Bank started coverage on Gilead Sciences in a research note on Thursday, September 22nd. They issued a “buy” rating on the stock. Maxim Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Sunday, July 10th. Finally, Zacks Investment Research lowered Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $103.78.
In related news, Director Kevin E. Lofton sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $81.97, for a total value of $286,895.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Paul Rutherford Carter sold 2,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $79.81, for a total value of $159,620.00. Following the completion of the sale, the executive vice president now owns 64,122 shares in the company, valued at $5,117,576.82. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
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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