Cadence Capital Management LLC decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 29.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,250 shares of the biopharmaceutical company’s stock after selling 49,074 shares during the period. Cadence Capital Management LLC’s holdings in Gilead Sciences were worth $8,543,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in GILD. Welch Investments LLC bought a new position in shares of Gilead Sciences during the 3rd quarter valued at about $108,000. Wealthcare Advisory Partners LLC bought a new position in shares of Gilead Sciences during the 3rd quarter valued at about $133,000. Horan Capital Advisors LLC. bought a new position in shares of Gilead Sciences during the 3rd quarter valued at about $144,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Gilead Sciences during the 2nd quarter valued at about $147,000. Finally, Hanson & Doremus Investment Management boosted its position in shares of Gilead Sciences by 806.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock valued at $147,000 after purchasing an additional 1,613 shares in the last quarter. 77.96% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on GILD. Vetr lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating and set a $91.25 price objective for the company. in a research report on Monday, January 29th. Citigroup upgraded shares of Gilead Sciences from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $88.80 to $76.00 in a research report on Tuesday, January 30th. Morgan Stanley reduced their price objective on shares of Gilead Sciences from $87.00 to $84.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Bank of America raised their price objective on shares of Gilead Sciences from $82.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets raised their price objective on shares of Gilead Sciences from $86.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. One 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. The company currently has an average rating of “Buy” and a consensus price target of $88.61.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.78 EPS for the quarter, topping the 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 net margin of 17.73% and a return on equity of 50.29%. The firm’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period last year, the company posted $2.70 earnings per share. analysts anticipate that Gilead Sciences, Inc. will post 6.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be issued a dividend of $0.57 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, March 15th. Gilead Sciences’s dividend payout ratio (DPR) is currently 65.52%.
In related news, CFO Robin L. Washington sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $80.31, for a total transaction of $401,550.00. Following the transaction, the chief financial officer now owns 23,749 shares of the company’s stock, valued at $1,907,282.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregg H. Alton sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $73.87, for a total transaction of $1,108,050.00. Following the transaction, the executive vice president now directly owns 64,613 shares in the company, valued at approximately $4,772,962.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 430,268 shares of company stock valued at $34,074,395. 1.30% of the stock is currently owned by corporate insiders.
Gilead Sciences 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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