Logan Capital Management Inc. Has $286,000 Stake in Gilead Sciences, Inc. (NASDAQ:GILD)
Logan Capital Management Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,202 shares of the biopharmaceutical company’s stock after selling 156 shares during the period. Logan Capital Management Inc.’s holdings in Gilead Sciences were worth $286,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Gilead Sciences during the fourth quarter worth approximately $997,048,000. Parnassus Investments CA increased its stake in shares of 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 period. Bank of New York Mellon Corp increased its stake in shares of 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 period. Numeric Investors LLC increased its stake in shares of Gilead Sciences by 173.5% in the fourth quarter. Numeric Investors LLC now owns 2,820,505 shares of the biopharmaceutical company’s stock worth $201,976,000 after buying an additional 1,789,101 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Gilead Sciences by 75.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,549,292 shares of the biopharmaceutical company’s stock worth $173,148,000 after buying an additional 1,092,206 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.
Gilead Sciences, Inc. (NASDAQ GILD) traded down 0.9481% during mid-day trading on Friday, reaching $72.0107. The company’s stock had a trading volume of 2,431,825 shares. The firm’s 50 day moving average is $72.31 and its 200-day moving average is $68.76. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $82.10. The stock has a market cap of $94.04 billion, a P/E ratio of 7.8213 and a beta of 1.21.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. Gilead Sciences’s revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm 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 company also recently announced 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 is Thursday, September 14th. This represents a $2.08 annualized dividend and a yield of 2.86%. Gilead Sciences’s dividend payout ratio (DPR) is 22.58%.
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GILD has been the topic of a number of recent analyst reports. Vetr upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $74.58 price objective on the stock in a research report on Tuesday, April 18th. Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Tuesday, May 2nd. BidaskClub upgraded Gilead Sciences from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 22nd. Barclays PLC reiterated an “overweight” rating and issued a $85.00 price objective (down previously from $90.00) on shares of Gilead Sciences in a research report on Sunday, April 23rd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $79.00 price objective on shares of Gilead Sciences in a research report on Monday, May 15th. Twelve analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $80.31.
In other Gilead Sciences news, EVP Gregg H. Alton sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $71.06, for a total value of $355,300.00. Following the completion of the sale, the executive vice president now directly owns 102,988 shares in the company, valued at $7,318,327.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregg H. Alton sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $74.00, for a total transaction of $2,960,000.00. Following the completion of the sale, the executive vice president now owns 137,488 shares of the company’s stock, valued at $10,174,112. 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. 1.30% of the stock is owned by insiders.
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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