Public Employees Retirement Association of Colorado lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 234,646 shares of the biopharmaceutical company’s stock after selling 9,275 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Gilead Sciences were worth $15,853,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its holdings in Gilead Sciences by 55.9% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 460 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 165 shares in the last quarter. Trustcore Financial Services LLC purchased a new stake in Gilead Sciences in the 1st quarter valued at approximately $34,000. Weaver Consulting Group purchased a new stake in Gilead Sciences in the 1st quarter valued at approximately $34,000. Legacy Advisors LLC purchased a new stake in Gilead Sciences in the 2nd quarter valued at approximately $37,000. Finally, Founders Capital Management boosted its holdings in Gilead Sciences by 50.0% in the 1st quarter. Founders Capital Management now owns 600 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. 78.87% of the stock is currently owned by hedge funds and other institutional investors.
GILD stock opened at $63.40 on Thursday. The firm’s 50 day moving average is $66.33. Gilead Sciences, Inc. has a 12-month low of $60.32 and a 12-month high of $79.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 3.67 and a current ratio of 3.76. The firm has a market cap of $81.03 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 3.04 and a beta of 1.16.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.14. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the firm earned $1.91 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 6.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.52 annualized dividend and a dividend yield of 3.97%. Gilead Sciences’s dividend payout ratio is currently 40.98%.
In related news, EVP Brett A. Pletcher sold 5,816 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $68.75, for a total transaction of $399,850.00. Following the completion of the transaction, the executive vice president now directly owns 27,198 shares in the company, valued at approximately $1,869,862.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brett A. Pletcher sold 7,200 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $65.07, for a total value of $468,504.00. Following the transaction, the executive vice president now owns 34,398 shares of the company’s stock, valued at $2,238,277.86. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
A number of equities research analysts have weighed in on GILD shares. ValuEngine raised Gilead Sciences from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Cowen reaffirmed a “buy” rating on shares of Gilead Sciences in a report on Friday, May 3rd. Citigroup set a $78.00 price objective on Gilead Sciences and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised Gilead Sciences from an “outperform” rating to a “top pick” rating and set a $91.00 price objective on the stock in a report on Monday, July 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Gilead Sciences presently has a consensus rating of “Buy” and a consensus price target of $82.29.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
Further Reading: Management Fee
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