Cadence Capital Management LLC Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Share on StockTwits

Cadence Capital Management LLC trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 19.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,024 shares of the biopharmaceutical company’s stock after selling 7,531 shares during the period. Cadence Capital Management LLC’s holdings in Gilead Sciences were worth $2,024,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its stake in shares of Gilead Sciences by 1.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 15,800 shares of the biopharmaceutical company’s stock worth $998,000 after buying an additional 225 shares during the last quarter. Brookmont Capital Management boosted its stake in shares of Gilead Sciences by 1.9% in the 3rd quarter. Brookmont Capital Management now owns 28,136 shares of the biopharmaceutical company’s stock worth $1,778,000 after buying an additional 518 shares during the last quarter. Hudson Capital Management LLC boosted its stake in shares of Gilead Sciences by 5.2% in the 3rd quarter. Hudson Capital Management LLC now owns 27,839 shares of the biopharmaceutical company’s stock worth $1,759,000 after buying an additional 1,373 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of Gilead Sciences by 11.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 103,428 shares of the biopharmaceutical company’s stock worth $6,536,000 after buying an additional 10,582 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Gilead Sciences in the 3rd quarter worth $1,566,000. Hedge funds and other institutional investors own 77.87% of the company’s stock.

A number of equities analysts recently commented on the company. Raymond James reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Monday, September 14th. Jefferies Financial Group assumed coverage on Gilead Sciences in a report on Wednesday, September 30th. They issued a “buy” rating and a $78.00 target price on the stock. Truist decreased their target price on Gilead Sciences from $74.00 to $67.00 in a report on Thursday, August 20th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Friday, August 7th. Finally, ValuEngine raised Gilead Sciences from a “strong sell” rating to a “sell” rating in a report on Monday, August 3rd. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $78.93.

GILD traded down $0.96 on Friday, hitting $62.00. The company had a trading volume of 12,307,196 shares, compared to its average volume of 14,747,112. The company has a market cap of $77.73 billion, a PE ratio of -258.32, a PEG ratio of 0.74 and a beta of 0.55. Gilead Sciences, Inc. has a 12-month low of $61.65 and a 12-month high of $85.97. The company has a quick ratio of 2.23, a current ratio of 2.33 and a debt-to-equity ratio of 1.22. The business’s fifty day simple moving average is $64.31 and its 200 day simple moving average is $72.31.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.46). The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.24 billion. Gilead Sciences had a positive return on equity of 33.59% and a negative net margin of 1.16%. On average, analysts anticipate that Gilead Sciences, Inc. will post 6.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were given a $0.68 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $2.72 annualized dividend and a yield of 4.39%. Gilead Sciences’s dividend payout ratio is currently 44.30%.

Gilead Sciences Company Profile

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

Further Reading: Forex

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD).

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

Receive News & Ratings for Gilead Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences and related companies with MarketBeat.com's FREE daily email newsletter.