Valley National Advisers Inc. grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) by 8.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 123,018 shares of the biopharmaceutical company’s stock after purchasing an additional 9,624 shares during the quarter. Gilead Sciences makes up 1.6% of Valley National Advisers Inc.’s investment portfolio, making the stock its 13th largest position. Valley National Advisers Inc.’s holdings in Gilead Sciences were worth $7,716,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westpac Banking Corp raised its position in shares of Gilead Sciences by 4.4% in the first quarter. Westpac Banking Corp now owns 107,818 shares of the biopharmaceutical company’s stock valued at $6,410,000 after buying an additional 4,526 shares in the last quarter. Personal CFO Solutions LLC bought a new position in Gilead Sciences in the first quarter valued at approximately $391,000. Atria Investments LLC increased its stake in Gilead Sciences by 20.9% in the first quarter. Atria Investments LLC now owns 90,880 shares of the biopharmaceutical company’s stock valued at $5,403,000 after acquiring an additional 15,694 shares during the last quarter. Sargent Bickham Lagudis LLC increased its stake in Gilead Sciences by 12.8% in the second quarter. Sargent Bickham Lagudis LLC now owns 3,036 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 344 shares during the last quarter. Finally, Aaron Wealth Advisors LLC bought a new position in Gilead Sciences in the first quarter valued at approximately $1,255,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. TheStreet raised shares of Gilead Sciences from a “c+” rating to a “b-” rating in a research note on Monday, August 15th. StockNews.com cut shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 17th. Morgan Stanley lifted their price objective on shares of Gilead Sciences from $63.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, July 15th. Truist Financial lifted their price objective on shares of Gilead Sciences from $71.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, September 15th. Finally, Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, July 12th. They set a “neutral” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Hold” and an average target price of $73.53.
Gilead Sciences Trading Down 1.5 %
Gilead Sciences (NASDAQ:GILD – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.07. Gilead Sciences had a net margin of 15.03% and a return on equity of 42.92%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Equities research analysts anticipate that Gilead Sciences, Inc. will post 6.63 EPS for the current fiscal year.
Gilead Sciences Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.92 annualized dividend and a yield of 4.65%. Gilead Sciences’s payout ratio is 89.02%.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.
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