2,840 Shares in Gilead Sciences, Inc. (GILD) Purchased by Baker Avenue Asset Management LP
Baker Avenue Asset Management LP bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,840 shares of the biopharmaceutical company’s stock, valued at approximately $201,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cincinnati Financial Corp bought a new position in Gilead Sciences in the first quarter worth $63,737,000. Cincinnati Insurance Co. acquired a new stake in Gilead Sciences in the first quarter worth about $5,162,000. Cincinnati Specialty Underwriters Insurance CO acquired a new stake in Gilead Sciences in the first quarter worth about $2,853,000. Holderness Investments Co. acquired a new stake in Gilead Sciences in the first quarter worth about $272,000. Finally, State of Wisconsin Investment Board lifted its holdings in shares of Gilead Sciences by 9.9% during the 1st quarter. State of Wisconsin Investment Board now owns 1,767,160 shares of the biopharmaceutical company’s stock valued at $120,025,000 after purchasing an additional 158,743 shares in the last quarter. 76.23% of the stock is owned by institutional investors.
In other Gilead Sciences news, CFO Robin L. Washington sold 51,820 shares of the stock in a transaction 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 $3,684,920. 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 15,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $74.82, for a total transaction of $1,122,300.00. Following the sale, the executive vice president now directly owns 77,363 shares in the company, valued at $5,788,299.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 458,486 shares of company stock valued at $35,190,731. 1.30% of the stock is owned by corporate insiders.
Shares of Gilead Sciences, Inc. (GILD) opened at $74.78 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.56 and a current ratio of 3.68. Gilead Sciences, Inc. has a 52 week low of $63.76 and a 52 week high of $86.27. The company has a market capitalization of $97,660.00, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of -1.22 and a beta of 1.13.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 EPS for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the firm earned $2.75 EPS. Gilead Sciences’s revenue for the quarter was down 13.2% compared to the same quarter last year. equities research analysts anticipate that Gilead Sciences, Inc. will post 8.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.78%. Gilead Sciences’s dividend payout ratio (DPR) is currently 23.66%.
Several equities research analysts have commented on GILD shares. Argus upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Thursday, August 31st. Deutsche Bank reissued a “buy” rating and set a $81.00 target price on shares of Gilead Sciences in a report on Thursday, August 31st. Vetr raised Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $91.98 target price on the stock in a report on Friday, October 13th. Credit Suisse Group reissued an “outperform” rating and set a $85.00 target price (up from $79.00) on shares of Gilead Sciences in a report on Tuesday, August 29th. Finally, Maxim Group restated a “hold” rating on shares of Gilead Sciences in a report on Monday, August 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Gilead Sciences has an average rating of “Buy” and a consensus price target of $85.22.
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.
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