Gilead Sciences, Inc. (GILD) Shares Bought by West Coast Financial LLC
West Coast Financial LLC grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 19.5% in the 3rd quarter, Holdings Channel reports. The firm owned 6,395 shares of the biopharmaceutical company’s stock after acquiring an additional 1,045 shares during the quarter. West Coast Financial LLC’s holdings in Gilead Sciences were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Tompkins Financial Corp boosted its stake in Gilead Sciences by 4.4% in the 2nd quarter. Tompkins Financial Corp now owns 15,479 shares of the biopharmaceutical company’s stock worth $1,096,000 after purchasing an additional 651 shares during the period. Benedict Financial Advisors Inc. boosted its stake in Gilead Sciences by 2.7% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 25,473 shares of the biopharmaceutical company’s stock worth $1,804,000 after purchasing an additional 673 shares during the period. Resource Management LLC boosted its stake in Gilead Sciences by 6.7% in the 2nd quarter. Resource Management LLC now owns 10,688 shares of the biopharmaceutical company’s stock worth $757,000 after purchasing an additional 674 shares during the period. Jolley Asset Management LLC boosted its stake in Gilead Sciences by 1.3% in the 2nd quarter. Jolley Asset Management LLC now owns 54,746 shares of the biopharmaceutical company’s stock worth $3,878,000 after purchasing an additional 678 shares during the period. Finally, Stralem & Co. Inc. boosted its stake in Gilead Sciences by 8.0% in the 3rd quarter. Stralem & Co. Inc. now owns 9,400 shares of the biopharmaceutical company’s stock worth $726,000 after purchasing an additional 700 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on GILD. BidaskClub upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. ValuEngine downgraded Gilead Sciences from a “hold” rating to a “sell” rating in a research report on Monday, August 20th. Mizuho set a $94.00 price target on Gilead Sciences and gave the company a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research downgraded Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, Robert W. Baird downgraded Gilead Sciences from an “outperform” rating to a “neutral” rating and set a $79.00 price target for the company. in a research report on Thursday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $87.85.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, July 25th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.35. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Gilead Sciences had a return on equity of 41.57% and a net margin of 9.52%. Gilead Sciences’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period last year, the firm posted $2.56 EPS. As a group, equities analysts expect that Gilead Sciences, Inc. will post 6.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 27th. Investors of record on Friday, September 14th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.11%. Gilead Sciences’s dividend payout ratio is 26.64%.
In related news, Director John C. Martin sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $74.16, for a total transaction of $3,708,000.00. Following the transaction, the director now directly owns 3,067,762 shares of the company’s stock, valued at approximately $227,505,229.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 150,000 shares of company stock worth $11,502,500. 1.30% of the stock is currently owned by insiders.
Gilead Sciences 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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