Grimes & Company Inc. purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,322 shares of the biopharmaceutical company’s stock, valued at approximately $238,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Welch Investments LLC bought a new stake in Gilead Sciences during the 3rd quarter valued at about $108,000. Wealthcare Advisory Partners LLC bought a new stake in Gilead Sciences during the 3rd quarter valued at about $133,000. Horan Capital Advisors LLC. bought a new stake in Gilead Sciences during the 3rd quarter valued at about $144,000. Hanson & Doremus Investment Management increased its stake in Gilead Sciences by 806.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock valued at $147,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Gilead Sciences during the 2nd quarter valued at about $147,000. 77.83% of the stock is owned by institutional investors.
In other news, CFO Robin L. Washington sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $80.31, for a total value of $401,550.00. Following the transaction, the chief financial officer now owns 23,749 shares of the company’s stock, valued at $1,907,282.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John C. Martin sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $73.62, for a total transaction of $3,681,000.00. Following the completion of the transaction, the insider now directly owns 3,046,766 shares in the company, valued at approximately $224,302,912.92. The disclosure for this sale can be found here. Insiders have sold 430,268 shares of company stock worth $34,074,395 in the last ninety days. Insiders own 1.30% of the company’s stock.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.11. Gilead Sciences had a net margin of 17.73% and a return on equity of 50.29%. The business had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the firm earned $2.70 earnings per share. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. equities research analysts forecast that Gilead Sciences, Inc. will post 6.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, March 15th. This represents a $2.28 annualized dividend and a yield of 2.86%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.52. Gilead Sciences’s payout ratio is currently 65.52%.
A number of analysts have weighed in on GILD shares. Leerink Swann restated a “market perform” rating and set a $80.00 price objective (down from $83.00) on shares of Gilead Sciences in a research note on Thursday, February 22nd. Credit Suisse Group reiterated a “buy” rating and issued a $82.00 price target on shares of Gilead Sciences in a research note on Thursday, December 7th. Zacks Investment Research lowered shares of Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. ValuEngine upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 8th. Finally, Wells Fargo upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $79.02 to $96.00 in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Gilead Sciences has a consensus rating of “Buy” and an average target price of $88.61.
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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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