DAVENPORT & Co LLC lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 50.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,422 shares of the biopharmaceutical company’s stock after buying an additional 5,188 shares during the quarter. DAVENPORT & Co LLC’s holdings in Gilead Sciences were worth $1,187,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GILD. Capital International Investors boosted its stake in shares of Gilead Sciences by 336.8% in the first quarter. Capital International Investors now owns 56,369,657 shares of the biopharmaceutical company’s stock worth $4,214,200,000 after buying an additional 43,464,551 shares during the last quarter. Capital World Investors raised its holdings in Gilead Sciences by 123.0% in the 1st quarter. Capital World Investors now owns 46,331,318 shares of the biopharmaceutical company’s stock worth $3,463,732,000 after purchasing an additional 25,555,467 shares during the period. Capital Research Global Investors raised its holdings in Gilead Sciences by 12.7% in the 1st quarter. Capital Research Global Investors now owns 95,982,319 shares of the biopharmaceutical company’s stock worth $7,175,643,000 after purchasing an additional 10,849,434 shares during the period. APG Asset Management N.V. raised its holdings in Gilead Sciences by 237.9% in the 1st quarter. APG Asset Management N.V. now owns 2,417,175 shares of the biopharmaceutical company’s stock worth $139,948,000 after purchasing an additional 1,701,818 shares during the period. Finally, First Trust Advisors LP raised its holdings in Gilead Sciences by 110.8% in the 2nd quarter. First Trust Advisors LP now owns 3,237,076 shares of the biopharmaceutical company’s stock worth $249,061,000 after purchasing an additional 1,701,510 shares during the period. Hedge funds and other institutional investors own 78.74% of the company’s stock.
A number of research firms recently weighed in on GILD. Mizuho reaffirmed a “buy” rating and issued a $81.00 price target on shares of Gilead Sciences in a report on Wednesday, May 13th. Royal Bank of Canada reduced their price target on Gilead Sciences from $89.00 to $87.00 and set an “outperform” rating for the company in a report on Friday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $86.00 price target on shares of Gilead Sciences in a report on Friday. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $85.00 price target on shares of Gilead Sciences in a report on Tuesday. Finally, BidaskClub cut Gilead Sciences from a “sell” rating to a “strong sell” rating in a report on Friday, July 24th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $79.63.
In related news, CAO Diane E. Wilfong sold 12,264 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $80.09, for a total value of $982,223.76. Following the completion of the transaction, the chief accounting officer now directly owns 23,685 shares in the company, valued at $1,896,931.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Francis Cogan sold 2,416 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $81.75, for a total value of $197,508.00. Following the completion of the transaction, the director now owns 57,276 shares of the company’s stock, valued at $4,682,313. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,079 shares of company stock valued at $2,240,630. Insiders own 0.13% of the company’s stock.
NASDAQ:GILD opened at $69.53 on Friday. Gilead Sciences, Inc. has a one year low of $60.89 and a one year high of $85.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.92 and a current ratio of 3.04. The stock has a market cap of $90.73 billion, a PE ratio of 13.06, a P/E/G ratio of 2.43 and a beta of 0.70. The stock has a 50 day moving average price of $75.47 and a 200 day moving average price of $73.57.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.46). Gilead Sciences had a negative net margin of 1.16% and a positive return on equity of 32.17%. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.24 billion. As a group, analysts predict that Gilead Sciences, Inc. will post 6.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 3.91%. Gilead Sciences’s dividend payout ratio is presently 44.30%.
Gilead Sciences 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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