Empirical Finance LLC increased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 93.6% during the first quarter, Holdings Channel reports. The institutional investor owned 27,416 shares of the biopharmaceutical company’s stock after buying an additional 13,253 shares during the period. Gilead Sciences comprises 0.9% of Empirical Finance LLC’s investment portfolio, making the stock its 23rd largest position. Empirical Finance LLC’s holdings in Gilead Sciences were worth $1,862,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Tiemann Investment Advisors LLC increased its position in shares of Gilead Sciences by 4.9% in the first quarter. Tiemann Investment Advisors LLC now owns 3,190 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 150 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Gilead Sciences by 10.2% in the first quarter. Artisan Partners Limited Partnership now owns 595,526 shares of the biopharmaceutical company’s stock worth $40,448,000 after buying an additional 55,103 shares in the last quarter. Westpac Banking Corp increased its position in shares of Gilead Sciences by 10.7% in the first quarter. Westpac Banking Corp now owns 334,939 shares of the biopharmaceutical company’s stock worth $25,798,000 after buying an additional 32,361 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Gilead Sciences during the first quarter worth approximately $2,792,000. Finally, ARS Investment Partners LLC increased its position in shares of Gilead Sciences by 0.9% in the first quarter. ARS Investment Partners LLC now owns 5,610 shares of the biopharmaceutical company’s stock worth $381,000 after buying an additional 50 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Gilead Sciences, Inc. (NASDAQ GILD) opened at 73.44 on Tuesday. Gilead Sciences, Inc. has a 52 week low of $63.76 and a 52 week high of $82.10. The stock has a 50 day moving average of $70.60 and a 200 day moving average of $68.59. The firm has a market cap of $95.91 billion, a PE ratio of 7.98 and a beta of 1.21.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the prior year, the company posted $3.08 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. Analysts anticipate that Gilead Sciences, Inc. will post $8.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.83%. Gilead Sciences’s payout ratio is presently 22.58%.

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A number of brokerages have recently commented on GILD. BidaskClub raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Friday, July 28th. Cowen and Company reaffirmed an “outperform” rating and set a $90.00 price target on shares of Gilead Sciences in a report on Thursday, July 27th. Deutsche Bank AG reaffirmed a “buy” rating and set a $81.00 price target (up from $79.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $82.00 price target (up from $72.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Gilead Sciences presently has an average rating of “Buy” and an average target price of $80.31.

In other Gilead Sciences news, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $75.88, for a total transaction of $1,138,200.00. Following the transaction, the executive vice president now directly owns 106,113 shares in the company, valued at approximately $8,051,854.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $75.86, for a total transaction of $5,563,041.38. Following the transaction, the insider now owns 3,199,969 shares in the company, valued at $242,749,648.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,666 shares of company stock worth $15,223,184. Corporate insiders own 1.30% of the company’s stock.

Gilead Sciences Company Profile

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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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