Comerica Bank Reduces Stake in Gilead Sciences, Inc. (GILD)

Comerica Bank decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 449,500 shares of the biopharmaceutical company’s stock after selling 4,624 shares during the period. Comerica Bank’s holdings in Gilead Sciences were worth $33,438,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Gilead Sciences by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,881,405 shares of the biopharmaceutical company’s stock valued at $2,185,784,000 after buying an additional 310,607 shares in the last quarter. Parnassus Investments CA grew its stake in shares of Gilead Sciences by 37.4% in the 1st quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Gilead Sciences by 9.3% in the 2nd quarter. Legal & General Group Plc now owns 7,004,455 shares of the biopharmaceutical company’s stock valued at $495,778,000 after buying an additional 596,992 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Gilead Sciences by 16.7% in the 1st quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock valued at $402,319,000 after buying an additional 849,741 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Gilead Sciences by 25.7% in the 1st quarter. AQR Capital Management LLC now owns 5,213,046 shares of the biopharmaceutical company’s stock valued at $354,070,000 after buying an additional 1,066,172 shares in the last quarter. Institutional investors own 73.97% of the company’s stock.

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In other Gilead Sciences news, CFO Robin L. Washington sold 51,820 shares of Gilead Sciences stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $85.00, for a total value of $4,404,700.00. Following the completion of the transaction, the chief financial officer now directly owns 43,352 shares of the company’s stock, valued at approximately $3,684,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregg H. Alton sold 40,000 shares of Gilead Sciences stock in a transaction on Friday, July 21st. The shares were sold at an average price of $74.00, for a total value of $2,960,000.00. Following the completion of the transaction, the executive vice president now directly owns 137,488 shares of the company’s stock, valued at $10,174,112. The disclosure for this sale can be found here. Insiders sold a total of 486,819 shares of company stock valued at $39,298,919 over the last ninety days. Insiders own 1.30% of the company’s stock.

Gilead Sciences, Inc. (NASDAQ:GILD) opened at 80.01 on Thursday. The firm has a market capitalization of $104.49 billion, a price-to-earnings ratio of 8.69 and a beta of 1.14. Gilead Sciences, Inc. has a 52 week low of $63.76 and a 52 week high of $86.27. The company has a 50 day moving average price of $82.69 and a 200-day moving average price of $72.48.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.45. The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.08 EPS. Equities analysts predict that Gilead Sciences, Inc. will post $8.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 15th were issued a $0.52 dividend. The ex-dividend date was Thursday, September 14th. This represents a $2.08 annualized dividend and a yield of 2.60%. Gilead Sciences’s dividend payout ratio is presently 22.58%.

GILD has been the subject of several recent research reports. Argus raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Thursday, August 31st. Deutsche Bank AG reissued a “buy” rating and issued a $81.00 price target on shares of Gilead Sciences in a research note on Thursday, August 31st. Credit Suisse Group reissued an “outperform” rating and issued a $85.00 price target (up previously from $79.00) on shares of Gilead Sciences in a research note on Tuesday, August 29th. BidaskClub raised Gilead Sciences from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. Finally, Vetr raised Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $83.66 price target for the company in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $85.80.

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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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