Harvey Capital Management Inc. Cuts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

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Harvey Capital Management Inc. reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,765 shares of the biopharmaceutical company’s stock after selling 1,800 shares during the quarter. Harvey Capital Management Inc.’s holdings in Gilead Sciences were worth $1,564,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Malaga Cove Capital LLC grew its stake in shares of Gilead Sciences by 0.6% during the second quarter. Malaga Cove Capital LLC now owns 24,813 shares of the biopharmaceutical company’s stock valued at $1,909,000 after acquiring an additional 143 shares in the last quarter. Anderson Fisher LLC lifted its stake in Gilead Sciences by 0.9% during the second quarter. Anderson Fisher LLC now owns 17,237 shares of the biopharmaceutical company’s stock worth $1,326,000 after purchasing an additional 149 shares during the last quarter. Archford Capital Strategies LLC boosted its holdings in Gilead Sciences by 1.5% in the second quarter. Archford Capital Strategies LLC now owns 9,912 shares of the biopharmaceutical company’s stock worth $763,000 after purchasing an additional 149 shares during the period. Exchange Capital Management Inc. increased its stake in Gilead Sciences by 1.2% during the second quarter. Exchange Capital Management Inc. now owns 12,670 shares of the biopharmaceutical company’s stock valued at $975,000 after purchasing an additional 150 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Gilead Sciences by 66.5% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 388 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 155 shares during the period. 77.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:GILD opened at $57.30 on Thursday. Gilead Sciences, Inc. has a fifty-two week low of $58.06 and a fifty-two week high of $85.97. The business has a 50-day moving average of $63.11 and a two-hundred day moving average of $71.42. The stock has a market capitalization of $73.62 billion, a P/E ratio of -238.74, a P/E/G ratio of 0.68 and a beta of 0.55. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.33 and a quick ratio of 2.23.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, October 28th. The biopharmaceutical company reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.21. Gilead Sciences had a positive return on equity of 33.59% and a negative net margin of 1.16%. As a group, research analysts expect that Gilead Sciences, Inc. will post 6.84 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.75%. Gilead Sciences’s dividend payout ratio is 44.30%.

A number of equities research analysts recently weighed in on GILD shares. Cantor Fitzgerald lowered their price objective on shares of Gilead Sciences from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. SunTrust Banks upped their target price on Gilead Sciences from $73.00 to $74.00 and gave the company a “hold” rating in a report on Friday, July 31st. Oppenheimer increased their price target on Gilead Sciences from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, September 10th. SVB Leerink reduced their price objective on Gilead Sciences from $88.00 to $79.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, ValuEngine raised Gilead Sciences from a “strong sell” rating to a “sell” rating in a research report on Monday, August 3rd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have assigned a buy rating to the company’s stock. Gilead Sciences presently has a consensus rating of “Hold” and a consensus target price of $77.15.

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; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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

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