Covenant Asset Management LLC lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 26.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,550 shares of the biopharmaceutical company’s stock after selling 1,300 shares during the period. Covenant Asset Management LLC’s holdings in Gilead Sciences were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Gilead Sciences by 9.8% during 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 purchasing an additional 2,727,063 shares during the period. Parnassus Investments CA boosted its position in shares of Gilead Sciences by 37.4% during the 1st quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after purchasing an additional 4,556,901 shares during the period. APG Asset Management N.V. boosted its position in shares of Gilead Sciences by 16.7% during 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 purchasing an additional 849,741 shares during the period. AQR Capital Management LLC boosted its position in shares of Gilead Sciences by 25.7% during the 1st quarter. AQR Capital Management LLC now owns 5,213,046 shares of the biopharmaceutical company’s stock worth $354,070,000 after purchasing an additional 1,066,172 shares during the period. Finally, Swiss National Bank boosted its position in shares of Gilead Sciences by 26.9% during the 1st quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock worth $317,059,000 after purchasing an additional 989,400 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Gilead Sciences, Inc. (GILD) Stake Lessened by Covenant Asset Management LLC” was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.dailypolitical.com/2017/09/21/gilead-sciences-inc-gild-stake-lessened-by-covenant-asset-management-llc.html.

A number of equities analysts recently weighed in on GILD shares. TheStreet raised shares of Gilead Sciences from a “c+” rating to a “b-” rating in a research report on Thursday, September 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Gilead Sciences in a research report on Tuesday, July 4th. Vetr cut shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $75.40 price objective for the company. in a research report on Wednesday, June 21st. Deutsche Bank AG started coverage on shares of Gilead Sciences in a research report on Friday, June 23rd. They set a “buy” rating and a $79.00 price objective for the company. Finally, Zacks Investment Research raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Monday, July 17th. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Gilead Sciences has an average rating of “Buy” and an average target price of $84.29.

Gilead Sciences, Inc. (NASDAQ GILD) traded up 0.27% on Thursday, reaching $82.86. 3,015,436 shares of the company’s stock were exchanged. The firm has a market capitalization of $108.21 billion, a price-to-earnings ratio of 9.00 and a beta of 1.19. The stock’s 50 day moving average price is $77.54 and its 200 day moving average price is $70.38. Gilead Sciences, Inc. has a 1-year low of $63.76 and a 1-year high of $86.27.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.08 earnings per share. On average, analysts expect that Gilead Sciences, Inc. will post $8.78 earnings per share 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 issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.52%. Gilead Sciences’s dividend payout ratio (DPR) is 22.58%.

In other Gilead Sciences news, insider John C. Martin sold 73,333 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $71.00, for a total transaction of $5,206,643.00. Following the sale, the insider now directly owns 3,199,969 shares of the company’s stock, valued at $227,197,799. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction 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. Insiders have sold 466,819 shares of company stock worth $36,740,240 over the last three months. 1.30% of the stock is owned by corporate insiders.

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.

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.