Profit Investment Management LLC Lowers Stake in Gilead Sciences, Inc. (GILD)
Profit Investment Management LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.9% during the first quarter, Holdings Channel reports. The institutional investor owned 11,347 shares of the biopharmaceutical company’s stock after selling 845 shares during the period. Profit Investment Management LLC’s holdings in Gilead Sciences were worth $771,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GILD. Sullivan Bruyette Speros & Blaney LLC boosted its position in Gilead Sciences by 0.6% in the fourth quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,779 shares of the biopharmaceutical company’s stock worth $485,000 after buying an additional 42 shares in the last quarter. Bluestein R H & Co. boosted its position in Gilead Sciences by 1.2% in the fourth quarter. Bluestein R H & Co. now owns 3,665 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 45 shares in the last quarter. Abner Herrman & Brock LLC boosted its position in Gilead Sciences by 0.5% in the first quarter. Abner Herrman & Brock LLC now owns 10,202 shares of the biopharmaceutical company’s stock worth $693,000 after buying an additional 50 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in Gilead Sciences by 0.5% in the third quarter. HighPoint Advisor Group LLC now owns 11,074 shares of the biopharmaceutical company’s stock worth $837,000 after buying an additional 51 shares in the last quarter. Finally, LBA Wealth Management LLC boosted its position in Gilead Sciences by 0.4% in the fourth quarter. LBA Wealth Management LLC now owns 14,258 shares of the biopharmaceutical company’s stock worth $1,021,000 after buying an additional 60 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gilead Sciences, Inc. (NASDAQ GILD) opened at 64.70 on Friday. The firm has a 50-day moving average of $65.97 and a 200 day moving average of $69.51. Gilead Sciences, Inc. has a one year low of $63.88 and a one year high of $88.85. The stock has a market capitalization of $84.55 billion, a price-to-earnings ratio of 6.84 and a beta of 1.11.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $2.20 EPS for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.02. The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.66 billion. Gilead Sciences had a net margin of 44.43% and a return on equity of 92.36%. On average, equities research analysts predict that Gilead Sciences, Inc. will post $8.20 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Friday, June 16th will be paid a $0.52 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $2.08 dividend on an annualized basis and a yield of 3.21%. Gilead Sciences’s dividend payout ratio is currently 18.91%.
COPYRIGHT VIOLATION WARNING: “Profit Investment Management LLC Lowers Stake in Gilead Sciences, Inc. (GILD)” was originally reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/06/11/profit-investment-management-llc-lowers-stake-in-gilead-sciences-inc-gild.html.
A number of research firms recently commented on GILD. Vetr cut Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $74.88 target price on the stock. in a research note on Tuesday, April 25th. Barclays PLC reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Gilead Sciences in a research note on Wednesday, May 3rd. Maxim Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $76.00 price objective (up from $75.00) on shares of Gilead Sciences in a research note on Wednesday, May 3rd. Finally, ValuEngine cut Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $80.61.
In other Gilead Sciences news, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $67.18, for a total value of $4,926,510.94. Following the transaction, the insider now directly owns 3,199,969 shares in the company, valued at approximately $214,973,917.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregg H. Alton sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $67.48, for a total transaction of $337,400.00. Following the completion of the transaction, the executive vice president now owns 117,988 shares in the company, valued at $7,961,830.24. The disclosure for this sale can be found here. Insiders sold a total of 88,276 shares of company stock worth $5,932,578 over the last 90 days. Insiders own 1.40% 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.
Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD).
Receive News & Ratings for Gilead Sciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.