Oppenheimer Asset Management Inc. purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the first quarter, Holdings Channel reports. The institutional investor purchased 21,032 shares of the biopharmaceutical company’s stock, valued at approximately $1,428,000.

Several other hedge funds have also modified their holdings of GILD. North Tide Capital LLC increased its stake in shares of Gilead Sciences by 100.0% in the first quarter. North Tide Capital LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $67,920,000 after buying an additional 500,000 shares during the period. Edmond DE Rothschild Holding S.A. increased its stake in shares of Gilead Sciences by 18.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,485,504 shares of the biopharmaceutical company’s stock worth $100,895,000 after buying an additional 230,714 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Gilead Sciences by 3.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 4,404,045 shares of the biopharmaceutical company’s stock worth $299,123,000 after buying an additional 150,318 shares during the period. Summit Street Capital Management LLC increased its stake in shares of Gilead Sciences by 17.7% in the first quarter. Summit Street Capital Management LLC now owns 48,492 shares of the biopharmaceutical company’s stock worth $3,294,000 after buying an additional 7,283 shares during the period. Finally, Stockman Wealth Management Inc. increased its stake in shares of Gilead Sciences by 21.4% in the first quarter. Stockman Wealth Management Inc. now owns 52,030 shares of the biopharmaceutical company’s stock worth $3,534,000 after buying an additional 9,173 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) traded down 0.41% during midday trading on Friday, reaching $72.40. The company had a trading volume of 7,029,745 shares. Gilead Sciences, Inc. has a 1-year low of $63.76 and a 1-year high of $82.10. The firm’s 50 day moving average price is $72.36 and its 200-day moving average price is $68.77. The stock has a market capitalization of $94.55 billion, a price-to-earnings ratio of 7.86 and a beta of 1.21.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion for 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%. Gilead Sciences’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the business posted $3.08 EPS. Equities research analysts expect that Gilead Sciences, Inc. will post $8.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.08 annualized dividend and a yield of 2.87%. Gilead Sciences’s payout ratio is currently 22.58%.

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A number of analysts have recently issued reports on the company. BidaskClub downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Friday, July 28th. Cowen and Company reiterated an “outperform” rating and set a $90.00 price target on shares of Gilead Sciences in a research report on Thursday, July 27th. Deutsche Bank AG reiterated a “buy” rating and set a $81.00 price target (up previously from $79.00) on shares of Gilead Sciences in a research report on Thursday, July 27th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $82.00 price target (up previously from $72.00) on shares of Gilead Sciences in a research report on Thursday, July 27th. Twelve analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Gilead Sciences currently has an average rating of “Buy” and an average target price of $80.31.

In other Gilead Sciences news, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $71.00, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg H. Alton sold 5,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $71.06, for a total value of $355,300.00. Following the transaction, the executive vice president now owns 102,988 shares in the company, valued at $7,318,327.28. The disclosure for this sale can be found here. Insiders have sold a total of 206,666 shares of company stock worth $15,223,184 over the last 90 days. 1.30% of the stock is currently owned by company 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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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