King Luther Capital Management Corp cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 22.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,605 shares of the biopharmaceutical company’s stock after selling 1,946 shares during the period. King Luther Capital Management Corp’s holdings in Gilead Sciences were worth $468,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Gilead Sciences by 583.3% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock valued at $110,000 after acquiring an additional 1,400 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of Gilead Sciences by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 144 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Gilead Sciences during the first quarter valued at approximately $143,000. Sterling Investment Advisors Ltd. bought a new stake in shares of Gilead Sciences during the second quarter valued at approximately $184,000. Finally, Washington Trust Bank increased its position in shares of Gilead Sciences by 24.8% during the second quarter. Washington Trust Bank now owns 2,767 shares of the biopharmaceutical company’s stock valued at $196,000 after acquiring an additional 550 shares in the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.
A number of research firms have commented on GILD. TheStreet raised shares of Gilead Sciences from a “c+” rating to a “b-” rating in a research report on Thursday, September 7th. Deutsche Bank reaffirmed a “buy” rating and issued a $81.00 target price on shares of Gilead Sciences in a research report on Thursday, August 31st. Credit Suisse Group set a $79.00 price target on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Monday, August 28th. Argus upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Thursday, August 31st. Finally, Berenberg Bank set a $86.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $85.11.
Gilead Sciences, Inc. (NASDAQ GILD) traded down $0.57 during trading hours on Thursday, reaching $72.72. 6,172,268 shares of the company were exchanged, compared to its average volume of 9,202,872. Gilead Sciences, Inc. has a 12 month low of $63.76 and a 12 month high of $86.27. The company has a debt-to-equity ratio of 1.10, a current ratio of 3.68 and a quick ratio of 3.56. The stock has a market capitalization of $95,736.46, a PE ratio of 7.65, a price-to-earnings-growth ratio of -1.23 and a beta of 1.13.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the company posted $2.75 earnings per share. Gilead Sciences’s revenue for the quarter was down 13.2% compared to the same quarter last year. equities analysts anticipate that Gilead Sciences, Inc. will post 8.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.86%. Gilead Sciences’s payout ratio is 23.69%.
In other news, insider John C. Martin sold 73,333 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $74.98, for a total value of $5,498,508.34. Following the sale, the insider now owns 3,070,099 shares in the company, valued at $230,196,023.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregg H. Alton sold 25,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $82.65, for a total transaction of $2,066,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 494,999 shares of company stock worth $37,404,139 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
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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