Oppenheimer Asset Management Inc. boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,881 shares of the biopharmaceutical company’s stock after purchasing an additional 289 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Gilead Sciences were worth $599,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of GILD. Spears Abacus Advisors LLC raised its position in Gilead Sciences by 11.1% during the second quarter. Spears Abacus Advisors LLC now owns 389,260 shares of the biopharmaceutical company’s stock worth $26,298,000 after acquiring an additional 38,865 shares during the period. Northeast Financial Consultants Inc purchased a new stake in shares of Gilead Sciences during the second quarter worth about $221,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Gilead Sciences by 2.9% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 11,848 shares of the biopharmaceutical company’s stock worth $800,000 after purchasing an additional 333 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Gilead Sciences by 24.9% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 98,483 shares of the biopharmaceutical company’s stock worth $6,654,000 after purchasing an additional 19,655 shares during the last quarter. Finally, Poehling Capital Management LLC raised its position in shares of Gilead Sciences by 4.6% during the 2nd quarter. Poehling Capital Management LLC now owns 31,547 shares of the biopharmaceutical company’s stock worth $2,131,000 after purchasing an additional 1,390 shares during the last quarter. Institutional investors own 79.89% of the company’s stock.
Several equities research analysts have commented on the company. Morgan Stanley set a $82.00 price objective on Gilead Sciences and gave the stock a “hold” rating in a research note on Monday, July 15th. Mizuho set a $88.00 target price on Gilead Sciences and gave the company a “buy” rating in a research report on Monday, July 15th. Raymond James set a $85.00 price target on Gilead Sciences and gave the stock a “buy” rating in a research note on Friday, August 23rd. Evercore ISI reiterated a “buy” rating on shares of Gilead Sciences in a research report on Friday, May 17th. Finally, Credit Suisse Group reduced their price objective on Gilead Sciences from $70.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Gilead Sciences presently has an average rating of “Buy” and an average target price of $82.24.
NASDAQ:GILD traded up $0.83 during trading hours on Wednesday, hitting $67.91. The company had a trading volume of 280,003 shares, compared to its average volume of 5,460,585. The company has a current ratio of 3.76, a quick ratio of 3.67 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average of $64.48 and a 200 day moving average of $65.43. The company has a market cap of $84.00 billion, a P/E ratio of 11.04, a P/E/G ratio of 3.15 and a beta of 1.10. Gilead Sciences, Inc. has a 1 year low of $60.32 and a 1 year high of $79.61.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. The business had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.54 billion. Gilead Sciences had a return on equity of 37.12% and a net margin of 26.64%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company earned $1.91 EPS. On average, analysts forecast that Gilead Sciences, Inc. will post 6.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Thursday, September 12th. Gilead Sciences’s payout ratio is currently 40.98%.
In other news, EVP Brett A. Pletcher sold 5,816 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $68.75, for a total value of $399,850.00. Following the completion of the sale, the executive vice president now owns 27,198 shares of the company’s stock, valued at approximately $1,869,862.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brett A. Pletcher sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $65.07, for a total transaction of $468,504.00. Following the sale, the executive vice president now owns 34,398 shares of the company’s stock, valued at approximately $2,238,277.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,532 shares of company stock valued at $1,221,149. 0.20% of the stock is owned by company insiders.
Gilead Sciences Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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