Zions Bancorporation lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 33.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,135 shares of the biopharmaceutical company’s stock after selling 4,049 shares during the period. Zions Bancorporation’s holdings in Gilead Sciences were worth $550,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Gilead Sciences by 9.8% in the 1st 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. Parnassus Investments CA boosted its holdings in Gilead Sciences by 37.4% in the 1st 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. APG Asset Management N.V. boosted its holdings in Gilead Sciences by 16.7% in the 1st 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 period. AQR Capital Management LLC boosted its holdings in Gilead Sciences by 25.7% in the 1st quarter. AQR Capital Management LLC now owns 5,213,046 shares of the biopharmaceutical company’s stock worth $354,070,000 after buying an additional 1,066,172 shares during the period. Finally, Swiss National Bank boosted its holdings in Gilead Sciences by 26.9% in the 1st quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock worth $317,059,000 after buying an additional 989,400 shares during the period. 74.05% of the stock is owned by institutional investors.

Several research analysts recently weighed in on the stock. BidaskClub downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Argus raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Thursday, August 31st. Vetr downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $82.15 target price for the company. in a report on Monday, August 28th. Cowen and Company reissued an “outperform” rating and set a $90.00 price objective on shares of Gilead Sciences in a report on Wednesday, July 5th. Finally, Wells Fargo & Company increased their price objective on shares of Gilead Sciences from $73.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, September 6th. Eleven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $83.06.

Gilead Sciences, Inc. (NASDAQ GILD) traded down 0.60% during trading on Wednesday, hitting $84.00. 2,596,182 shares of the stock were exchanged. The stock’s 50 day moving average price is $76.14 and its 200 day moving average price is $69.83. The stock has a market cap of $109.70 billion, a P/E ratio of 9.12 and a beta of 1.19. Gilead Sciences, Inc. has a 12 month low of $63.76 and a 12 month high of $86.27.

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, topping the consensus estimate of $2.11 by $0.45. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The firm 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 firm earned $3.08 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts forecast that Gilead Sciences, Inc. will post $8.75 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, September 14th. Gilead Sciences’s payout ratio is currently 22.58%.

In related news, CFO Robin L. Washington sold 51,820 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the sale, the chief financial officer now directly owns 43,352 shares of the company’s stock, valued at approximately $3,684,920. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregg H. Alton sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $71.06, for a total transaction of $355,300.00. Following the sale, the executive vice president now directly owns 102,988 shares in the company, valued at $7,318,327.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 466,819 shares of company stock worth $36,740,240. 1.30% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/13/gilead-sciences-inc-gild-position-trimmed-by-zions-bancorporation.html.

Gilead Sciences 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.

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

Receive News & Ratings for Gilead Sciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.