Patriot Financial Group Insurance Agency LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,544 shares of the biopharmaceutical company’s stock after selling 184 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Gilead Sciences were worth $169,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock valued at $2,076,368,000 after buying an additional 2,727,063 shares in the last quarter. Parnassus Investments CA boosted its position in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after buying an additional 4,556,901 shares in the last quarter. Norges Bank purchased a new position in shares of Gilead Sciences during the fourth quarter worth about $997,048,000. APG Asset Management N.V. boosted its position in shares of Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock worth $402,319,000 after buying an additional 849,741 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Gilead Sciences by 26.9% in the first quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock worth $317,059,000 after buying an additional 989,400 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.
Gilead Sciences, Inc. (NASDAQ GILD) traded down 1.62% during trading on Thursday, hitting $72.70. 8,606,720 shares of the company’s stock traded hands. The company has a market cap of $94.94 billion, a PE ratio of 7.90 and a beta of 1.21. Gilead Sciences, Inc. has a 52-week low of $63.76 and a 52-week high of $82.10. The company’s 50 day moving average price is $72.16 and its 200 day moving average price is $68.73.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.08 EPS. Analysts expect that Gilead Sciences, Inc. will post $8.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s payout ratio is 22.58%.
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A number of research analysts recently issued reports on GILD shares. Cowen and Company restated a “buy” rating and set a $100.00 price objective on shares of Gilead Sciences in a report on Monday, April 17th. Stifel Nicolaus restated a “buy” rating and set a $87.00 price objective on shares of Gilead Sciences in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Tuesday, May 2nd. Vetr cut shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $74.88 price objective for the company. in a report on Tuesday, April 25th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Gilead Sciences in a report on Friday, April 21st. Twelve analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $80.31.
In related news, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $75.88, for a total value of $1,138,200.00. Following the completion of the sale, the executive vice president now owns 106,113 shares of the company’s stock, valued at approximately $8,051,854.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John C. Martin sold 73,333 shares of Gilead Sciences stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $75.86, for a total value of $5,563,041.38. Following the completion of the sale, the insider now directly owns 3,199,969 shares of the company’s stock, valued at approximately $242,749,648.34. The disclosure for this sale can be found here. Insiders have sold a total of 206,666 shares of company stock worth $15,223,184 over the last quarter. Company insiders own 1.30% of the company’s stock.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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