Texas Capital Bank Wealth Management Services Inc Buys New Stake in Gilead Sciences, Inc. $GILD

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,625 shares of the biopharmaceutical company’s stock, valued at approximately $963,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Gilead Sciences during the second quarter worth about $15,393,785,000. Vanguard Group Inc. boosted its position in shares of Gilead Sciences by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company’s stock valued at $14,863,487,000 after purchasing an additional 2,113,692 shares during the period. State Street Corp boosted its position in shares of Gilead Sciences by 1.9% in the 4th quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company’s stock valued at $7,393,921,000 after purchasing an additional 1,151,213 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Gilead Sciences by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company’s stock worth $3,399,734,000 after buying an additional 1,195,269 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Gilead Sciences by 15.2% during the 4th quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock worth $2,837,948,000 after buying an additional 3,046,688 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Up 0.4%

Gilead Sciences stock opened at $138.92 on Tuesday. The stock has a 50 day moving average of $130.33 and a two-hundred day moving average of $136.43. Gilead Sciences, Inc. has a twelve month low of $108.46 and a twelve month high of $157.29. The stock has a market capitalization of $172.25 billion, a price-to-earnings ratio of -52.03 and a beta of 0.32. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same quarter in the previous year, the company posted $2.01 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts expect that Gilead Sciences, Inc. will post -0.53 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.

Wall Street Analyst Weigh In

GILD has been the topic of several research analyst reports. HSBC raised Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price target for the stock from $133.00 to $155.00 in a research report on Monday, July 6th. Rothschild & Co Redburn lowered their target price on shares of Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Maxim Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Wednesday, May 20th. Barclays reduced their price target on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Finally, Morgan Stanley decreased their price target on shares of Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, July 27th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $158.04.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 3,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $125.40, for a total transaction of $376,200.00. Following the completion of the transaction, the chief financial officer owned 171,646 shares in the company, valued at approximately $21,524,408.40. This represents a 1.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $123.92, for a total transaction of $371,760.00. Following the transaction, the insider owned 124,234 shares of the company’s stock, valued at approximately $15,395,077.28. The trade was a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 51,000 shares of company stock valued at $6,568,860. 0.30% of the stock is owned by company insiders.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.