Griffin Asset Management Inc. lifted its position in shares of Gilead Sciences (NASDAQ:GILD) by 2.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,160 shares of the biopharmaceutical company’s stock after buying an additional 650 shares during the quarter. Griffin Asset Management Inc.’s holdings in Gilead Sciences were worth $1,946,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GILD. Rowland & Co. Investment Counsel ADV bought a new stake in Gilead Sciences in the 2nd quarter valued at $153,000. Stonebridge Capital Advisors LLC increased its holdings in Gilead Sciences by 260.6% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 73,943 shares of the biopharmaceutical company’s stock valued at $5,234,000 after acquiring an additional 53,440 shares during the last quarter. Scotia Capital Inc. increased its holdings in Gilead Sciences by 9.8% in the 2nd quarter. Scotia Capital Inc. now owns 146,411 shares of the biopharmaceutical company’s stock valued at $10,362,000 after acquiring an additional 13,078 shares during the last quarter. Linscomb & Williams Inc. increased its holdings in Gilead Sciences by 10.1% in the 2nd quarter. Linscomb & Williams Inc. now owns 5,806 shares of the biopharmaceutical company’s stock valued at $411,000 after acquiring an additional 531 shares during the last quarter. Finally, Chiron Investment Management LLC increased its holdings in Gilead Sciences by 42.9% in the 2nd quarter. Chiron Investment Management LLC now owns 266,500 shares of the biopharmaceutical company’s stock valued at $18,863,000 after acquiring an additional 80,000 shares during the last quarter. Institutional investors own 78.40% of the company’s stock.
In related news, 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 sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayle E. Wilson sold 60,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $77.92, for a total transaction of $4,675,200.00. Following the sale, the director now directly owns 182,258 shares of the company’s stock, valued at approximately $14,201,543.36. The disclosure for this sale can be found here. Insiders sold a total of 314,433 shares of company stock valued at $24,758,352 in the last ninety days. Corporate insiders own 1.16% of the company’s stock.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share for the quarter, topping 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 firm had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the company earned $2.70 EPS. The company’s revenue was down 18.7% compared to the same quarter last year. equities analysts expect that Gilead Sciences will post 6.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Friday, March 16th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, March 15th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.52. Gilead Sciences’s dividend payout ratio is presently 26.64%.
GILD has been the topic of a number of research reports. Jefferies Group upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.19 to $93.00 in a report on Friday, January 26th. Vetr downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $90.00 price target on the stock. in a report on Wednesday, January 17th. Mizuho set a $95.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a report on Monday, February 5th. Citigroup upgraded shares of Gilead Sciences from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $88.80 to $76.00 in a report on Tuesday, January 30th. Finally, Maxim Group set a $94.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Gilead Sciences presently has an average rating of “Buy” and an average price target of $88.65.
About Gilead Sciences
Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
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