Cim Investment Management Inc. Lowers Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Cim Investment Management Inc. lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,996 shares of the biopharmaceutical company’s stock after selling 177 shares during the period. Cim Investment Management Inc.’s holdings in Gilead Sciences were worth $1,377,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of GILD. E Fund Management Co. Ltd. acquired a new position in shares of Gilead Sciences during the 1st quarter worth about $1,201,000. Quilter Plc raised its holdings in Gilead Sciences by 4.2% in the 1st quarter. Quilter Plc now owns 67,083 shares of the biopharmaceutical company’s stock valued at $4,336,000 after acquiring an additional 2,711 shares during the last quarter. Cresset Asset Management LLC raised its holdings in Gilead Sciences by 13.1% in the 1st quarter. Cresset Asset Management LLC now owns 23,143 shares of the biopharmaceutical company’s stock valued at $1,495,000 after acquiring an additional 2,679 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in Gilead Sciences by 2.2% in the 1st quarter. Cidel Asset Management Inc. now owns 11,333 shares of the biopharmaceutical company’s stock valued at $732,000 after acquiring an additional 241 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Gilead Sciences by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 20,671,306 shares of the biopharmaceutical company’s stock valued at $1,332,764,000 after acquiring an additional 592,386 shares during the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.

GILD has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “buy” rating and issued a C$84.00 price objective on shares of Gilead Sciences in a report on Monday, August 23rd. SVB Leerink increased their price target on shares of Gilead Sciences from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Morgan Stanley increased their price target on shares of Gilead Sciences from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday. BMO Capital Markets increased their price target on shares of Gilead Sciences from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Friday, July 30th. Finally, Zacks Investment Research raised shares of Gilead Sciences from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a research note on Tuesday, August 10th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $105.72.

In other news, CAO Diane E. Wilfong sold 13,610 shares of Gilead Sciences stock in a transaction dated Tuesday, August 17th. The shares were sold at an average price of $72.50, for a total value of $986,725.00. Following the sale, the chief accounting officer now owns 30,179 shares of the company’s stock, valued at $2,187,977.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is owned by company insiders.

GILD stock traded up $0.75 during midday trading on Thursday, hitting $68.38. The company’s stock had a trading volume of 148,088 shares, compared to its average volume of 7,250,418. Gilead Sciences, Inc. has a 52-week low of $56.56 and a 52-week high of $73.34. The firm has a 50-day simple moving average of $70.59 and a 200-day simple moving average of $68.42. The firm has a market capitalization of $85.74 billion, a P/E ratio of 16.50, a PEG ratio of 0.63 and a beta of 0.39. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 1.42.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, July 29th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.11. Gilead Sciences had a net margin of 19.38% and a return on equity of 55.94%. The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same period last year, the business earned $1.11 EPS. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 7.15 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 29th. Investors of record on Wednesday, September 15th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Tuesday, September 14th. This represents a $2.84 annualized dividend and a yield of 4.15%. Gilead Sciences’s dividend payout ratio is currently 40.06%.

Gilead Sciences Profile

Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.

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

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