TIAA CREF Investment Management LLC Cuts Stake in Gilead Sciences (GILD)

TIAA CREF Investment Management LLC decreased its stake in shares of Gilead Sciences (NASDAQ:GILD) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,535,524 shares of the biopharmaceutical company’s stock after selling 132,038 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.42% of Gilead Sciences worth $396,565,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rowland & Co. Investment Counsel ADV bought a new stake in Gilead Sciences during the second quarter worth about $153,000. Stonebridge Capital Advisors LLC boosted its stake in Gilead Sciences by 260.6% during the second quarter. Stonebridge Capital Advisors LLC now owns 73,943 shares of the biopharmaceutical company’s stock worth $5,234,000 after acquiring an additional 53,440 shares in the last quarter. Scotia Capital Inc. boosted its stake in Gilead Sciences by 9.8% during the second quarter. Scotia Capital Inc. now owns 146,411 shares of the biopharmaceutical company’s stock worth $10,362,000 after acquiring an additional 13,078 shares in the last quarter. Linscomb & Williams Inc. boosted its stake in Gilead Sciences by 10.1% during the second quarter. Linscomb & Williams Inc. now owns 5,806 shares of the biopharmaceutical company’s stock worth $411,000 after acquiring an additional 531 shares in the last quarter. Finally, Chiron Investment Management LLC boosted its stake in Gilead Sciences by 42.9% during the second quarter. Chiron Investment Management LLC now owns 266,500 shares of the biopharmaceutical company’s stock worth $18,863,000 after acquiring an additional 80,000 shares in the last quarter. 78.35% of the stock is currently owned by hedge funds and other institutional investors.

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In other Gilead Sciences news, CFO Robin L. Washington sold 5,000 shares of the company’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 completion of the sale, the chief financial officer now directly owns 23,749 shares of the company’s stock, valued at $1,907,282.19. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregg H. Alton sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $83.51, for a total transaction of $2,087,750.00. Following the sale, the executive vice president now directly owns 62,738 shares of the company’s stock, valued at $5,239,250.38. The disclosure for this sale can be found here. Insiders have sold 308,600 shares of company stock valued at $24,328,226 over the last three months. 1.30% of the stock is owned by corporate insiders.

Several equities research analysts recently commented on the stock. Credit Suisse Group set a $80.00 price objective on shares of Gilead Sciences and gave the stock a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of Gilead Sciences from a “sell” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Thursday. Barclays reissued an “overweight” rating and set a $95.00 price objective (up previously from $90.00) on shares of Gilead Sciences in a research note on Tuesday, March 6th. BidaskClub lowered shares of Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, March 3rd. Finally, TheStreet lowered shares of Gilead Sciences from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $88.65.

GILD opened at $74.44 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.74 and a quick ratio of 2.67. Gilead Sciences has a twelve month low of $63.76 and a twelve month high of $89.54. The company has a market cap of $98,401.56, a PE ratio of 8.70, a P/E/G ratio of -1.74 and a beta of 1.19.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.11. Gilead Sciences had a net margin of 17.73% and a return on equity of 50.29%. The firm had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the company earned $2.70 earnings per share. The firm’s quarterly revenue was down 18.7% on a year-over-year basis. research analysts predict that Gilead Sciences will post 6.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Friday, March 16th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.06%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, March 15th. Gilead Sciences’s payout ratio is presently 26.64%.

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About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics 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, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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