Sheets Smith Wealth Management decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,445 shares of the biopharmaceutical company’s stock after selling 3,195 shares during the period. Sheets Smith Wealth Management’s holdings in Gilead Sciences were worth $2,567,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whalerock Point Partners LLC bought a new position in Gilead Sciences during the third quarter worth about $4,446,000. Brinker Capital Inc. raised its position in Gilead Sciences by 1.3% in the third quarter. Brinker Capital Inc. now owns 6,580 shares of the biopharmaceutical company’s stock worth $521,000 after buying an additional 85 shares during the last quarter. MEMBERS Trust Co raised its position in Gilead Sciences by 5.7% in the third quarter. MEMBERS Trust Co now owns 2,791 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 151 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Gilead Sciences during the third quarter worth about $21,595,000. Finally, Colony Group LLC raised its position in Gilead Sciences by 11.1% in the third quarter. Colony Group LLC now owns 6,584 shares of the biopharmaceutical company’s stock worth $521,000 after buying an additional 660 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.
Gilead Sciences, Inc. (NASDAQ:GILD) opened at 67.65 on Tuesday. The company has a 50-day moving average price of $72.08 and a 200-day moving average price of $75.53. Gilead Sciences, Inc. has a one year low of $65.38 and a one year high of $103.10. The stock has a market cap of $88.62 billion, a P/E ratio of 6.81 and a beta of 1.11.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 7th. The biopharmaceutical company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.61 by $0.09. The business had revenue of $7.30 billion for the quarter, compared to the consensus estimate of $7.16 billion. Gilead Sciences had a return on equity of 92.36% and a net margin of 44.43%. Gilead Sciences’s revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.32 EPS. On average, analysts anticipate that Gilead Sciences, Inc. will post $8.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th will be issued a $0.52 dividend. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Tuesday, March 14th. Gilead Sciences’s payout ratio is presently 18.91%.
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A number of research firms have recently issued reports on GILD. Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a report on Sunday, November 6th. Cowen and Company set a $120.00 target price on Gilead Sciences and gave the company a “buy” rating in a report on Sunday, October 23rd. Zacks Investment Research lowered Gilead Sciences from a “hold” rating to a “sell” rating in a report on Monday. Piper Jaffray Companies reissued a “hold” rating and issued a $95.00 target price (down previously from $102.00) on shares of Gilead Sciences in a report on Wednesday, February 8th. Finally, Jefferies Group LLC dropped their target price on Gilead Sciences from $83.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen 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 an average target price of $88.94.
In related news, insider John C. Martin sold 73,337 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $73.59, for a total value of $5,396,869.83. Following the completion of the transaction, the insider now owns 3,204,433 shares in the company, valued at approximately $235,814,224.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Madigan sold 105,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $74.86, for a total transaction of $7,860,300.00. Following the completion of the transaction, the director now owns 121,761 shares of the company’s stock, valued at approximately $9,115,028.46. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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