Gilead Sciences, Inc. (GILD) Stake Lowered by Oakbrook Investments LLC
Oakbrook Investments LLC trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 81.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,070 shares of the biopharmaceutical company’s stock after selling 310,404 shares during the period. Oakbrook Investments LLC’s holdings in Gilead Sciences were worth $5,487,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Aperio Group LLC increased its position in shares of Gilead Sciences by 8.2% during the third quarter. Aperio Group LLC now owns 790,091 shares of the biopharmaceutical company’s stock valued at $61,003,000 after buying an additional 59,662 shares during the period. Highland Private Wealth Management purchased a new position in shares of Gilead Sciences during the third quarter valued at about $219,000. Stralem & Co. Inc. increased its position in shares of Gilead Sciences by 8.0% during the third quarter. Stralem & Co. Inc. now owns 9,400 shares of the biopharmaceutical company’s stock valued at $726,000 after buying an additional 700 shares during the period. Coastline Trust Co increased its position in shares of Gilead Sciences by 37.8% during the third quarter. Coastline Trust Co now owns 23,655 shares of the biopharmaceutical company’s stock valued at $1,827,000 after buying an additional 6,490 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Gilead Sciences during the third quarter valued at about $6,454,000. 78.06% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John C. Martin sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $74.16, for a total transaction of $3,708,000.00. Following the sale, the director now owns 3,067,762 shares in the company, valued at $227,505,229.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have sold 150,000 shares of company stock worth $11,502,500. Corporate insiders own 1.30% of the company’s stock.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, July 25th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.35. Gilead Sciences had a net margin of 9.52% and a return on equity of 41.57%. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the prior year, the company posted $2.56 earnings per share. The business’s revenue for the quarter was down 20.9% on a year-over-year basis. As a group, equities analysts predict that Gilead Sciences, Inc. will post 6.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Friday, September 14th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, September 13th. Gilead Sciences’s payout ratio is 26.64%.
Several brokerages recently issued reports on GILD. ValuEngine cut shares of Gilead Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. BidaskClub upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Mizuho set a $94.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Tuesday, July 31st. Robert W. Baird cut shares of Gilead Sciences from an “outperform” rating to a “neutral” rating and set a $79.00 price objective on the stock. in a report on Thursday, July 26th. Finally, Zacks Investment Research upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Wednesday, July 18th. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Gilead Sciences has a consensus rating of “Buy” and an average target price of $88.24.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
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