Private Wealth Advisors Inc. Lowers Stake in Gilead Sciences, Inc. (GILD)
Private Wealth Advisors Inc. lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 46.4% during the first quarter, Holdings Channel reports. The firm owned 6,979 shares of the biopharmaceutical company’s stock after selling 6,030 shares during the period. Private Wealth Advisors Inc.’s holdings in Gilead Sciences were worth $474,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock worth $2,076,368,000 after buying an additional 2,727,063 shares during the last quarter. Parnassus Investments CA increased its position in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Franklin Resources Inc. increased its position in Gilead Sciences by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 14,317,385 shares of the biopharmaceutical company’s stock worth $1,025,373,000 after buying an additional 313,703 shares during the last quarter. Norges Bank acquired a new position in Gilead Sciences during the fourth quarter worth about $997,048,000. Finally, APG Asset Management N.V. increased its position in Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock worth $402,319,000 after buying an additional 849,741 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.
Shares of Gilead Sciences, Inc. (NASDAQ GILD) opened at 72.72 on Thursday. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $88.85. The firm’s 50-day moving average price is $68.08 and its 200 day moving average price is $68.59. The firm has a market cap of $95.03 billion, a P/E ratio of 7.69 and a beta of 1.21.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $2.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $0.02. Gilead Sciences had a return on equity of 76.64% and a net margin of 43.42%. The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Analysts predict that Gilead Sciences, Inc. will post $8.41 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Friday, June 16th were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, June 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.86%. Gilead Sciences’s dividend payout ratio is presently 21.99%.
A number of research firms have issued reports on GILD. Jefferies Group LLC restated a “hold” rating and set a $80.00 target price on shares of Gilead Sciences in a research report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird restated an “outperform” rating and set a $87.00 target price on shares of Gilead Sciences in a research report on Thursday, July 13th. Morgan Stanley restated an “equal weight” rating on shares of Gilead Sciences in a research report on Tuesday, July 11th. Finally, Cowen and Company restated an “outperform” rating and set a $90.00 target price on shares of Gilead Sciences in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Gilead Sciences has a consensus rating of “Buy” and a consensus price target of $80.24.
In other news, Director John Francis Cogan sold 9,943 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $67.25, for a total transaction of $668,666.75. Following the transaction, the director now owns 47,562 shares of the company’s stock, valued at approximately $3,198,544.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $71.00, for a total value of $5,206,643.00. Following the transaction, the insider now directly owns 3,199,969 shares in the company, valued at approximately $227,197,799. The disclosure for this sale can be found here. Insiders have sold a total of 88,276 shares of company stock worth $6,230,610 in the last ninety days. 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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