FOURPOINTS Investment Managers S.A.S. Reduces Stake in Gilead Sciences, Inc. (GILD)
FOURPOINTS Investment Managers S.A.S. cut its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 24.1% during the first quarter, Holdings Channel reports. The institutional investor owned 20,200 shares of the biopharmaceutical company’s stock after selling 6,400 shares during the period. FOURPOINTS Investment Managers S.A.S.’s holdings in Gilead Sciences were worth $1,372,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GILD. Westport Asset Management Inc. acquired a new position in Gilead Sciences during the fourth quarter worth approximately $1,003,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Gilead Sciences during the fourth quarter worth approximately $194,000. Norges Bank acquired a new position in Gilead Sciences during the fourth quarter worth approximately $997,048,000. Miles Capital Inc. increased its position in Gilead Sciences by 8.0% in the fourth quarter. Miles Capital Inc. now owns 16,065 shares of the biopharmaceutical company’s stock worth $1,150,000 after buying an additional 1,184 shares in the last quarter. Finally, Summit Street Capital Management LLC increased its position in Gilead Sciences by 20.3% in the fourth quarter. Summit Street Capital Management LLC now owns 41,209 shares of the biopharmaceutical company’s stock worth $2,951,000 after buying an additional 6,955 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.
Shares of Gilead Sciences, Inc. (GILD) traded down 1.01% during midday trading on Thursday, hitting $73.15. The stock had a trading volume of 2,025,369 shares. The company has a market capitalization of $95.53 billion, a PE ratio of 7.95 and a beta of 1.21. The firm’s 50-day moving average is $72.16 and its 200 day moving average is $68.73. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $82.10.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.45. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same period last year, the company earned $3.08 earnings per share. Equities analysts expect that Gilead Sciences, Inc. will post $8.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.81%. Gilead Sciences’s dividend payout ratio is 22.58%.
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GILD has been the topic of a number of recent research reports. BidaskClub upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $82.00 target price (up from $72.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Deutsche Bank AG reiterated a “buy” rating and issued a $81.00 target price (up from $79.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $83.00 target price on shares of Gilead Sciences in a research note on Thursday, July 27th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $90.00 target price on shares of Gilead Sciences in a research note on Thursday, July 27th. Twelve analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Gilead Sciences presently has a consensus rating of “Buy” and a consensus price target of $80.31.
In other Gilead Sciences news, EVP Gregg H. Alton sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $74.00, for a total value of $2,960,000.00. Following the completion of the transaction, the executive vice president now directly owns 137,488 shares in the company, valued at $10,174,112. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $75.86, for a total value of $5,563,041.38. Following the completion of the transaction, the insider now owns 3,199,969 shares of the company’s stock, valued at $242,749,648.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,666 shares of company stock valued at $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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