Manning & Napier Advisors LLC Decreases Holdings in Gilead Sciences, Inc. (GILD)

Manning & Napier Advisors LLC cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 189,381 shares of the biopharmaceutical company’s stock after selling 25,051 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Gilead Sciences were worth $15,343,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Keel Point LLC increased its stake in shares of Gilead Sciences by 0.4% in the second quarter. Keel Point LLC now owns 3,123 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 12 shares during the period. Paradigm Financial Advisors LLC increased its stake in shares of Gilead Sciences by 0.3% in the second quarter. Paradigm Financial Advisors LLC now owns 8,723 shares of the biopharmaceutical company’s stock worth $617,000 after buying an additional 26 shares during the period. Princeton Portfolio Strategies Group LLC increased its stake in shares of Gilead Sciences by 0.4% in the second quarter. Princeton Portfolio Strategies Group LLC now owns 9,766 shares of the biopharmaceutical company’s stock worth $691,000 after buying an additional 41 shares during the period. Arrow Financial Corp increased its stake in shares of Gilead Sciences by 0.3% in the second quarter. Arrow Financial Corp now owns 17,771 shares of the biopharmaceutical company’s stock worth $1,258,000 after buying an additional 45 shares during the period. Finally, Auxier Asset Management increased its stake in shares of Gilead Sciences by 1.4% in the second quarter. Auxier Asset Management now owns 6,773 shares of the biopharmaceutical company’s stock worth $479,000 after buying an additional 96 shares during the period. 75.95% of the stock is currently owned by hedge funds and other institutional investors.

GILD has been the topic of several analyst reports. Leerink Swann reaffirmed a “market perform” rating and issued a $87.00 target price (up from $82.00) on shares of Gilead Sciences in a research note on Wednesday, September 20th. Mizuho reaffirmed a “buy” rating on shares of Gilead Sciences in a research note on Friday, September 29th. Jefferies Group reaffirmed a “hold” rating and issued a $93.00 target price on shares of Gilead Sciences in a research note on Wednesday, October 4th. Bank of America decreased their target price on shares of Gilead Sciences from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 4th. Finally, Oppenheimer started coverage on shares of Gilead Sciences in a research report on Thursday, October 5th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. Gilead Sciences presently has a consensus rating of “Buy” and an average target price of $85.53.

In other news, insider John C. Martin sold 73,333 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $75.13, for a total transaction of $5,509,508.29. Following the sale, the insider now owns 3,070,099 shares in the company, valued at approximately $230,656,537.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gregg H. Alton sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $79.00, for a total transaction of $2,370,000.00. Following the completion of the transaction, the executive vice president now owns 57,114 shares in the company, valued at approximately $4,512,006. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,666 shares of company stock worth $36,442,567. Company insiders own 1.30% of the company’s stock.

Shares of Gilead Sciences, Inc. (NASDAQ GILD) opened at $81.74 on Thursday. Gilead Sciences, Inc. has a fifty-two week low of $63.76 and a fifty-two week high of $86.27. The company has a market cap of $106,750.00, a price-to-earnings ratio of 9.30, a PEG ratio of -1.71 and a beta of 1.13. The company has a current ratio of 3.68, a quick ratio of 3.56 and a debt-to-equity ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The firm had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the previous year, the business posted $2.75 EPS. The company’s quarterly revenue was down 13.2% on a year-over-year basis. sell-side analysts forecast that Gilead Sciences, Inc. will post 8.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 15th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, December 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 23.66%.

WARNING: “Manning & Napier Advisors LLC Decreases Holdings in Gilead Sciences, Inc. (GILD)” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2018/01/18/manning-napier-advisors-llc-decreases-holdings-in-gilead-sciences-inc-gild.html.

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.

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD).

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

Receive News & Ratings for Gilead Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply