Pictet Asset Management Ltd. trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 8.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,315,926 shares of the biopharmaceutical company’s stock after selling 307,073 shares during the period. Pictet Asset Management Ltd. owned about 0.26% of Gilead Sciences worth $256,023,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Davidson Investment Advisors lifted its holdings in shares of Gilead Sciences by 2.5% during the third quarter. Davidson Investment Advisors now owns 324,929 shares of the biopharmaceutical company’s stock valued at $25,088,000 after purchasing an additional 7,935 shares during the last quarter. Independent Advisor Alliance raised its position in Gilead Sciences by 10.6% during the third quarter. Independent Advisor Alliance now owns 7,988 shares of the biopharmaceutical company’s stock valued at $526,000 after buying an additional 765 shares during the period. Boston Private Wealth LLC raised its position in Gilead Sciences by 4.5% during the third quarter. Boston Private Wealth LLC now owns 130,782 shares of the biopharmaceutical company’s stock valued at $10,098,000 after buying an additional 5,664 shares during the period. Westpac Banking Corp raised its position in Gilead Sciences by 0.8% during the third quarter. Westpac Banking Corp now owns 104,102 shares of the biopharmaceutical company’s stock valued at $8,038,000 after buying an additional 868 shares during the period. Finally, Thomas White International Ltd. acquired a new position in Gilead Sciences during the third quarter valued at $411,000. 77.57% of the stock is owned by institutional investors and hedge funds.
Shares of GILD stock opened at $66.59 on Monday. The company has a current ratio of 3.45, a quick ratio of 3.37 and a debt-to-equity ratio of 1.09. Gilead Sciences, Inc. has a fifty-two week low of $64.27 and a fifty-two week high of $89.54. The stock has a market capitalization of $86.14 billion, a price-to-earnings ratio of 7.78, a PEG ratio of -2.58 and a beta of 1.01.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Thursday, December 13th. Gilead Sciences’s payout ratio is currently 26.64%.
In other Gilead Sciences news, Director John C. Martin sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $69.55, for a total value of $3,477,500.00. Following the transaction, the director now directly owns 3,067,762 shares of the company’s stock, valued at approximately $213,362,847.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 150,000 shares of company stock worth $11,087,500. Insiders own 1.16% of the company’s stock.
GILD has been the topic of several recent analyst reports. BidaskClub raised Gilead Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Mizuho reissued a “buy” rating and set a $94.00 price target on shares of Gilead Sciences in a research report on Friday, August 10th. Piper Jaffray Companies set a $85.00 price target on Gilead Sciences and gave the company a “buy” rating in a research report on Wednesday, September 12th. ValuEngine raised Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Finally, Barclays upped their price target on Gilead Sciences from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $88.63.
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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