Edgemoor Investment Advisors Inc. cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 96.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,300 shares of the biopharmaceutical company’s stock after selling 126,027 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Gilead Sciences were worth $305,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. raised its position in shares of Gilead Sciences by 53.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 9,054,685 shares of the biopharmaceutical company’s stock valued at $648,679,000 after purchasing an additional 3,148,128 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Gilead Sciences by 147.9% in the 1st quarter. Point72 Asset Management L.P. now owns 3,078,566 shares of the biopharmaceutical company’s stock valued at $232,093,000 after purchasing an additional 1,836,662 shares in the last quarter. Farallon Capital Management LLC acquired a new position in shares of Gilead Sciences in the 1st quarter valued at approximately $137,210,000. State Treasurer State of Michigan raised its position in shares of Gilead Sciences by 55.5% in the 1st quarter. State Treasurer State of Michigan now owns 4,210,424 shares of the biopharmaceutical company’s stock valued at $317,424,000 after purchasing an additional 1,502,700 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Gilead Sciences by 1.4% in the 1st quarter. BlackRock Inc. now owns 105,236,053 shares of the biopharmaceutical company’s stock valued at $7,933,746,000 after purchasing an additional 1,438,806 shares in the last quarter. 77.59% of the stock is currently owned by hedge funds and other institutional investors.
GILD has been the topic of a number of recent analyst reports. Zacks Investment Research raised Gilead Sciences from a “sell” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Thursday, April 19th. Raymond James initiated coverage on Gilead Sciences in a research report on Thursday, June 28th. They issued a “strong-buy” rating and a $93.00 target price on the stock. ValuEngine lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Piper Jaffray Companies initiated coverage on Gilead Sciences in a research report on Wednesday, May 30th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Credit Suisse Group set a $80.00 target price on Gilead Sciences and gave the company a “hold” rating in a research report on Tuesday, April 17th. Twelve research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $88.00.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, July 25th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.35. Gilead Sciences had a return on equity of 41.57% and a net margin of 9.52%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the business earned $2.56 EPS. The business’s quarterly revenue was down 20.9% on a year-over-year basis. equities analysts forecast that Gilead Sciences, Inc. will post 6.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Friday, September 14th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, September 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.92%. Gilead Sciences’s payout ratio is currently 26.64%.
In related news, Director John C. Martin sold 50,000 shares of the company’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $70.81, for a total transaction of $3,540,500.00. Following the completion of the transaction, the director now directly owns 3,067,762 shares in the company, valued at approximately $217,228,227.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 150,000 shares of company stock valued at $10,839,500. 1.30% of the stock is owned by company insiders.
Gilead Sciences Company Profile
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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