Highland Private Wealth Management Takes $219,000 Position in Gilead Sciences, Inc. (GILD)

Highland Private Wealth Management purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 2,841 shares of the biopharmaceutical company’s stock, valued at approximately $219,000.

Several other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Gilead Sciences by 11.6% during the second quarter. Bank of New York Mellon Corp now owns 30,936,970 shares of the biopharmaceutical company’s stock worth $2,191,575,000 after buying an additional 3,221,439 shares during the last quarter. Swedbank raised its stake in Gilead Sciences by 103.7% during the third quarter. Swedbank now owns 3,906,172 shares of the biopharmaceutical company’s stock worth $301,596,000 after buying an additional 1,988,987 shares during the last quarter. Natixis raised its stake in Gilead Sciences by 4,550.6% during the second quarter. Natixis now owns 1,913,535 shares of the biopharmaceutical company’s stock worth $135,555,000 after buying an additional 1,872,389 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Gilead Sciences by 1,631.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 997,656 shares of the biopharmaceutical company’s stock worth $70,674,000 after buying an additional 940,044 shares during the last quarter. Finally, Sanders Capital LLC raised its stake in Gilead Sciences by 7.0% during the second quarter. Sanders Capital LLC now owns 10,579,575 shares of the biopharmaceutical company’s stock worth $804,126,000 after buying an additional 696,200 shares during the last quarter. 77.99% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:GILD opened at $75.62 on Thursday. The company has a quick ratio of 2.92, a current ratio of 3.00 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $100.09 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of -3.92 and a beta of 1.01. Gilead Sciences, Inc. has a 12 month low of $64.27 and a 12 month high of $89.54.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, July 25th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.35. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Gilead Sciences had a net margin of 9.52% and a return on equity of 41.57%. The business’s quarterly revenue was down 20.9% on a year-over-year basis. During the same period last year, the company posted $2.56 earnings per share. As a group, research analysts anticipate that Gilead Sciences, Inc. will post 6.56 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Shareholders of record on Friday, September 14th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, September 13th. Gilead Sciences’s payout ratio is 26.64%.

A number of equities analysts recently weighed in on the stock. Wells Fargo & Co lifted their target price on shares of Gilead Sciences from $89.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Robert W. Baird downgraded shares of Gilead Sciences from an “outperform” rating to a “neutral” rating and set a $79.00 target price for the company. in a research note on Thursday, July 26th. ValuEngine raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Friday, September 28th. BidaskClub raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, September 29th. Finally, Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Monday, October 1st. They set an “overweight” rating and a $87.00 target price for the company. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $88.24.

In other Gilead Sciences news, Director John C. Martin sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $74.16, for a total value of $3,708,000.00. Following the completion of the sale, the director now directly owns 3,067,762 shares in the company, valued at $227,505,229.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 150,000 shares of company stock valued at $11,502,500 over the last 90 days. Corporate insiders own 1.16% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics 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, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.

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

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