Harvey Capital Management Inc. lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,100 shares of the biopharmaceutical company’s stock after selling 7,110 shares during the quarter. Gilead Sciences makes up about 2.5% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Harvey Capital Management Inc.’s holdings in Gilead Sciences were worth $6,884,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in GILD. Welch Investments LLC purchased a new stake in shares of Gilead Sciences in the third quarter valued at $108,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Gilead Sciences in the third quarter valued at $133,000. Horan Capital Advisors LLC. purchased a new stake in shares of Gilead Sciences in the third quarter valued at $144,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Gilead Sciences in the second quarter valued at $147,000. Finally, Hanson & Doremus Investment Management raised its stake in shares of Gilead Sciences by 806.5% in the third quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock valued at $147,000 after acquiring an additional 1,613 shares during the period. 77.96% of the stock is currently owned by hedge funds and other institutional investors.
GILD has been the topic of several recent analyst reports. Vetr downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $90.00 target price on the stock. in a research note on Wednesday, January 17th. Credit Suisse Group reissued a “buy” rating and issued a $82.00 target price on shares of Gilead Sciences in a research note on Thursday, December 7th. Zacks Investment Research downgraded shares of Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Maxim Group set a $94.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Wells Fargo & Co raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their target price for the company from $79.02 to $96.00 in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $88.61.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.11. The business had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.71 billion. Gilead Sciences had a net margin of 17.73% and a return on equity of 50.29%. The company’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.70 earnings per share. equities analysts anticipate that Gilead Sciences, Inc. will post 6.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be given a $0.57 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, March 15th. Gilead Sciences’s dividend payout ratio (DPR) is presently 59.77%.
In related news, EVP Gregg H. Alton sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $73.87, for a total value of $1,108,050.00. Following the completion of the transaction, the executive vice president now directly owns 64,613 shares of the company’s stock, valued at approximately $4,772,962.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robin L. Washington sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $80.31, for a total transaction of $401,550.00. Following the completion of the transaction, the chief financial officer now directly owns 23,749 shares of the company’s stock, valued at $1,907,282.19. The disclosure for this sale can be found here. Insiders sold a total of 430,268 shares of company stock valued at $34,074,395 over the last ninety days. 1.30% of the stock is currently owned by insiders.
Gilead Sciences Profile
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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