Abner Herrman & Brock LLC trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 20.0% in the second quarter, Holdings Channel reports. The fund owned 9,176 shares of the biopharmaceutical company’s stock after selling 2,300 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Gilead Sciences were worth $650,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of GILD. Heritage Wealth Advisors grew its stake in Gilead Sciences by 2.5% during the fourth quarter. Heritage Wealth Advisors now owns 26,523 shares of the biopharmaceutical company’s stock worth $1,903,000 after purchasing an additional 642 shares during the period. Griffin Asset Management Inc. grew its stake in Gilead Sciences by 2.5% during the fourth quarter. Griffin Asset Management Inc. now owns 27,160 shares of the biopharmaceutical company’s stock worth $1,946,000 after purchasing an additional 650 shares during the period. Wedbush Securities Inc. grew its stake in Gilead Sciences by 1.0% during the fourth quarter. Wedbush Securities Inc. now owns 65,102 shares of the biopharmaceutical company’s stock worth $4,664,000 after purchasing an additional 660 shares during the period. LeJeune Puetz Investment Counsel LLC grew its stake in Gilead Sciences by 3.8% during the fourth quarter. LeJeune Puetz Investment Counsel LLC now owns 18,826 shares of the biopharmaceutical company’s stock worth $1,349,000 after purchasing an additional 691 shares during the period. Finally, Weatherstone Capital Management grew its stake in Gilead Sciences by 13.1% during the fourth quarter. Weatherstone Capital Management now owns 6,233 shares of the biopharmaceutical company’s stock worth $447,000 after purchasing an additional 722 shares during the period. Institutional investors own 77.67% of the company’s stock.
GILD has been the subject of several recent analyst reports. Zacks Investment Research cut Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Credit Suisse Group set a $80.00 target price on Gilead Sciences and gave the stock a “hold” rating in a research note on Tuesday, April 17th. ValuEngine cut Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Leerink Swann set a $72.00 target price on Gilead Sciences and gave the stock a “market perform” rating in a research note on Wednesday, May 2nd. Finally, Barclays decreased their target price on Gilead Sciences from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $88.22.
Shares of Gilead Sciences traded up $2.42, hitting $75.23, during mid-day trading on Friday, Marketbeat.com reports. 390,482 shares of the company traded hands, compared to its average volume of 6,067,803. The stock has a market cap of $92.75 billion, a price-to-earnings ratio of 8.60, a PEG ratio of -6.18 and a beta of 1.12. The company has a quick ratio of 2.75, a current ratio of 2.84 and a debt-to-equity ratio of 1.32. Gilead Sciences, Inc. has a 12-month low of $64.27 and a 12-month high of $89.54.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, May 1st. The biopharmaceutical company reported $1.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.19). The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Gilead Sciences had a net margin of 14.03% and a return on equity of 45.49%. The firm’s quarterly revenue was down 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.23 EPS. equities research analysts expect that Gilead Sciences, Inc. will post 5.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 28th. Investors of record on Friday, June 15th were given a dividend of $0.57 per share. The ex-dividend date was Thursday, June 14th. This represents a $2.28 annualized dividend and a dividend yield of 3.03%. Gilead Sciences’s payout ratio is 26.64%.
In related news, Director John Francis Cogan sold 5,836 shares of Gilead Sciences stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $65.09, for a total transaction of $379,865.24. Following the transaction, the director now owns 58,455 shares of the company’s stock, valued at $3,804,835.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John C. Martin sold 50,000 shares of Gilead Sciences stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $68.13, for a total value of $3,406,500.00. Following the transaction, the director now directly owns 3,067,762 shares in the company, valued at approximately $209,006,625.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,335 shares of company stock worth $12,238,349. 1.30% of the stock is owned by insiders.
Gilead Sciences Company 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 offers antiviral products under Harvoni, Genvoya, Epclusa, Truvada, Atripla, Descovy, Stribild, Viread, Odefsey, Complera/Eviplera, Sovaldi, and Vosevi brands.
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