Corient Private Wealth LP Acquires 1,859,008 Shares of Gilead Sciences, Inc. $GILD

Corient Private Wealth LP grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 300.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,478,397 shares of the biopharmaceutical company’s stock after buying an additional 1,859,008 shares during the period. Corient Private Wealth LP’s holdings in Gilead Sciences were worth $313,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences in the fourth quarter valued at $25,000. Persistent Asset Partners Ltd purchased a new position in Gilead Sciences during the 2nd quarter valued at $25,000. Vermillion & White Wealth Management Group LLC increased its position in Gilead Sciences by 71.4% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 85 shares during the period. Quattro Advisors LLC bought a new position in Gilead Sciences in the 4th quarter worth $26,000. Finally, Wealth Preservation Advisors LLC lifted its position in shares of Gilead Sciences by 60.0% in the 4th quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 81 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $138.36, for a total value of $415,080.00. Following the completion of the transaction, the chief financial officer directly owned 165,646 shares of the company’s stock, valued at approximately $22,918,780.56. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the completion of the transaction, the director directly owned 10,066 shares of the company’s stock, valued at $1,459,771.32. This trade represents a 33.19% decrease in their ownership of the stock. 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 quarter, insiders have sold 87,000 shares of company stock worth $11,562,960. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GILD. Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 target price on shares of Gilead Sciences in a research note on Wednesday, August 5th. Maxim Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Wednesday, May 20th. Royal Bank Of Canada raised their price objective on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Morgan Stanley cut their price objective on Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Finally, Wall Street Zen upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Twenty-four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.04.

Gilead Sciences Stock Down 0.5%

GILD stock opened at $148.09 on Thursday. The business has a 50 day moving average of $133.31 and a 200 day moving average of $136.58. The firm has a market cap of $183.62 billion, a PE ratio of -55.46 and a beta of 0.32. Gilead Sciences, Inc. has a twelve month low of $108.46 and a twelve month high of $157.29. The company has a quick ratio of 1.09, a current ratio of 1.27 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) EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $7.40 billion. During the same period 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. On average, research analysts forecast that Gilead Sciences, Inc. will post -0.5 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences’s payout ratio is currently -122.85%.

Gilead Sciences Profile

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.