Whalerock Point Partners LLC cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 21.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,134 shares of the biopharmaceutical company’s stock after selling 6,625 shares during the quarter. Whalerock Point Partners LLC’s holdings in Gilead Sciences were worth $1,729,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Welch Investments LLC bought a new stake in Gilead Sciences in the third quarter worth about $108,000. Wealthcare Advisory Partners LLC bought a new stake in Gilead Sciences in the third quarter worth about $133,000. Horan Capital Advisors LLC. bought a new stake in Gilead Sciences in the third quarter worth about $144,000. Hanson & Doremus Investment Management raised its position in Gilead Sciences by 806.5% in the third quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after acquiring an additional 1,613 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Gilead Sciences in the second quarter worth about $147,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.
GILD has been the topic of several research reports. Citigroup upgraded shares of Gilead Sciences from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $88.80 to $76.00 in a research report on Tuesday, January 30th. Royal Bank of Canada restated a “buy” rating and set a $94.00 price objective on shares of Gilead Sciences in a report on Friday, February 23rd. BMO Capital Markets boosted their price objective on Gilead Sciences from $86.00 to $88.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Vetr downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $90.00 price objective on the stock. in a report on Wednesday, January 17th. Finally, Credit Suisse Group downgraded Gilead Sciences from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $74.35 to $80.00 in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $88.61.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.11. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Gilead Sciences had a return on equity of 50.29% and a net margin of 17.73%. The firm’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.70 EPS. research analysts expect that Gilead Sciences, Inc. will post 6.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be paid a $0.57 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $2.28 annualized dividend and a dividend yield of 2.79%. Gilead Sciences’s payout ratio is presently 59.77%.
In other Gilead Sciences news, Director Gayle E. Wilson sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $77.92, for a total transaction of $4,675,200.00. Following the completion of the sale, the director now owns 182,258 shares of the company’s stock, valued at $14,201,543.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $73.87, for a total value of $1,108,050.00. Following the sale, the executive vice president now directly owns 64,613 shares of the company’s stock, valued at approximately $4,772,962.31. The disclosure for this sale can be found here. In the last three months, insiders sold 430,268 shares of company stock valued at $34,074,395. 1.30% of the stock is currently owned by company insiders.
Gilead Sciences Company Profile
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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