Palladium Partners LLC decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 44.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,507 shares of the biopharmaceutical company’s stock after selling 6,052 shares during the period. Palladium Partners LLC’s holdings in Gilead Sciences were worth $510,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Abner Herrman & Brock LLC raised its stake in shares of Gilead Sciences by 0.5% in the first quarter. Abner Herrman & Brock LLC now owns 10,202 shares of the biopharmaceutical company’s stock valued at $693,000 after buying an additional 50 shares during the period. Blue Fin Capital Inc. raised its stake in shares of Gilead Sciences by 0.8% in the first quarter. Blue Fin Capital Inc. now owns 7,213 shares of the biopharmaceutical company’s stock valued at $489,000 after buying an additional 55 shares during the period. Searle & CO. raised its stake in shares of Gilead Sciences by 0.6% in the first quarter. Searle & CO. now owns 13,350 shares of the biopharmaceutical company’s stock valued at $907,000 after buying an additional 80 shares during the period. Alpha Windward LLC raised its stake in shares of Gilead Sciences by 2.4% in the first quarter. Alpha Windward LLC now owns 3,921 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 92 shares during the period. Finally, S&CO Inc. raised its stake in shares of Gilead Sciences by 1.5% in the first quarter. S&CO Inc. now owns 6,275 shares of the biopharmaceutical company’s stock valued at $426,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 74.02% of the company’s stock.
Shares of Gilead Sciences, Inc. (NASDAQ GILD) traded up 0.98% during mid-day trading on Tuesday, hitting $73.31. 1,045,286 shares of the company were exchanged. Gilead Sciences, Inc. has a 12-month low of $63.76 and a 12-month high of $82.10. The company has a market capitalization of $95.74 billion, a price-to-earnings ratio of 7.96 and a beta of 1.21. The firm has a 50 day moving average of $72.66 and a 200 day moving average of $68.77.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the prior year, the business posted $3.08 earnings per share. The firm’s revenue was down 8.2% on a year-over-year basis. Equities research analysts forecast that Gilead Sciences, Inc. will post $8.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.87%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s payout ratio is presently 22.58%.
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Several brokerages have issued reports on GILD. Berenberg Bank reissued a “buy” rating and issued a $86.00 price target (up previously from $79.00) on shares of Gilead Sciences in a report on Sunday. BidaskClub raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Investment Research raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Friday, July 28th. Cowen and Company reissued an “outperform” rating and issued a $90.00 price target on shares of Gilead Sciences in a report on Thursday, July 27th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $81.00 price target (up previously from $79.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $80.64.
In related news, 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 value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $71.00, for a total value of $5,206,643.00. Following the completion of the sale, the insider now owns 3,199,969 shares in the company, valued at $227,197,799. The disclosure for this sale can be found here. Insiders sold 206,666 shares of company stock worth $15,223,184 over the last quarter. 1.30% of the stock is currently owned by company insiders.
About Gilead Sciences
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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