American Assets Investment Management LLC lowered its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,790 shares of the biopharmaceutical company’s stock after selling 12,000 shares during the quarter. American Assets Investment Management LLC’s holdings in Gilead Sciences were worth $3,949,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Waldron LP raised its position in Gilead Sciences by 20.4% in the 1st quarter. Waldron LP now owns 10,360 shares of the biopharmaceutical company’s stock valued at $711,000 after buying an additional 1,752 shares during the last quarter. Conning Inc. grew its stake in Gilead Sciences by 241.0% in the first quarter. Conning Inc. now owns 120,564 shares of the biopharmaceutical company’s stock valued at $8,189,000 after purchasing an additional 85,212 shares in the last quarter. Dowling & Yahnke LLC grew its stake in Gilead Sciences by 1.0% in the first quarter. Dowling & Yahnke LLC now owns 48,601 shares of the biopharmaceutical company’s stock valued at $3,301,000 after purchasing an additional 492 shares in the last quarter. HealthInvest Partners AB grew its stake in Gilead Sciences by 3.5% in the first quarter. HealthInvest Partners AB now owns 117,000 shares of the biopharmaceutical company’s stock valued at $7,947,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD grew its stake in Gilead Sciences by 9.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 109,223 shares of the biopharmaceutical company’s stock valued at $7,418,000 after purchasing an additional 9,654 shares in the last quarter. 73.88% of the stock is currently owned by institutional investors.
In other news, insider John C. Martin sold 73,333 shares of Gilead Sciences stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $75.86, for a total value of $5,563,041.38. Following the sale, the insider now owns 3,199,969 shares in the company, valued at $242,749,648.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregg H. Alton sold 50,000 shares of Gilead Sciences stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $79.00, for a total transaction of $3,950,000.00. Following the completion of the sale, the executive vice president now owns 113,237 shares in the company, valued at approximately $8,945,723. The disclosure for this sale can be found here. In the last three months, insiders have sold 446,819 shares of company stock valued at $36,338,919. 1.30% of the stock is currently owned by corporate insiders.
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Shares of Gilead Sciences, Inc. (GILD) traded down 1.04% during midday trading on Friday, reaching $77.07. 22,760,672 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $82.38 and its 200 day moving average is $72.98. The firm has a market cap of $100.65 billion, a PE ratio of 8.37 and a beta of 1.14. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $86.27.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.14. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.40 billion. Gilead Sciences had a net margin of 42.22% and a return on equity of 59.94%. The business’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the company posted $2.75 earnings per share. Analysts anticipate that Gilead Sciences, Inc. will post $8.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.70%. Gilead Sciences’s dividend payout ratio (DPR) is presently 23.69%.
Several research analysts have recently commented on GILD shares. BMO Capital Markets reiterated a “hold” rating and set a $82.00 target price on shares of Gilead Sciences in a research note on Friday, October 20th. J P Morgan Chase & Co set a $85.00 price target on Gilead Sciences and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Monday, August 28th. Vetr raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $89.27 price objective for the company in a report on Wednesday, September 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $83.00 price objective (up from $77.00) on shares of Gilead Sciences in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $85.68.
Gilead Sciences Company Profile
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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