Wedge Capital Management L L P NC lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 15.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 509,749 shares of the biopharmaceutical company’s stock after selling 94,220 shares during the period. Wedge Capital Management L L P NC’s holdings in Gilead Sciences were worth $34,439,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Parnassus Investments CA lifted its position in shares of Gilead Sciences by 21.2% during the 1st quarter. Parnassus Investments CA now owns 13,074,555 shares of the biopharmaceutical company’s stock worth $849,976,000 after purchasing an additional 2,288,767 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in Gilead Sciences in the second quarter valued at $93,386,000. First Trust Advisors LP lifted its position in Gilead Sciences by 77.8% in the second quarter. First Trust Advisors LP now owns 2,825,707 shares of the biopharmaceutical company’s stock valued at $190,905,000 after acquiring an additional 1,236,379 shares during the last quarter. State of Tennessee Treasury Department lifted its position in Gilead Sciences by 122.8% in the first quarter. State of Tennessee Treasury Department now owns 987,411 shares of the biopharmaceutical company’s stock valued at $64,191,000 after acquiring an additional 544,218 shares during the last quarter. Finally, Sanders Capital LLC lifted its position in Gilead Sciences by 5.0% in the first quarter. Sanders Capital LLC now owns 11,291,933 shares of the biopharmaceutical company’s stock valued at $793,701,000 after acquiring an additional 539,793 shares during the last quarter. 78.87% of the stock is owned by institutional investors.
In other news, EVP Brett A. Pletcher sold 5,816 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $68.75, for a total transaction of $399,850.00. Following the transaction, the executive vice president now directly owns 27,198 shares in the company, valued at $1,869,862.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brett A. Pletcher sold 7,200 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $65.07, for a total transaction of $468,504.00. Following the transaction, the executive vice president now owns 34,398 shares in the company, valued at $2,238,277.86. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
NASDAQ GILD traded down $0.70 during trading on Wednesday, reaching $63.28. The company’s stock had a trading volume of 1,370,080 shares, compared to its average volume of 6,884,881. The company has a current ratio of 3.76, a quick ratio of 3.67 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $82.62 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 3.10 and a beta of 1.16. Gilead Sciences, Inc. has a twelve month low of $60.32 and a twelve month high of $79.61. The business’s fifty day moving average is $66.43.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.54 billion. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. Gilead Sciences’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.91 earnings per share. On average, equities analysts predict that Gilead Sciences, Inc. will post 6.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.98%. Gilead Sciences’s dividend payout ratio (DPR) is 40.98%.
A number of brokerages recently weighed in on GILD. Citigroup set a $78.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald set a $88.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Monday, July 15th. BMO Capital Markets set a $82.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Wednesday, July 31st. Zacks Investment Research cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Goldman Sachs Group cut shares of Gilead Sciences from a “neutral” rating to a “sell” rating and reduced their price target for the company from $70.00 to $60.00 in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $82.29.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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