Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 817,222 shares of the biopharmaceutical company’s stock after buying an additional 31,162 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Gilead Sciences worth $55,212,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GILD. Creative Financial Designs Inc. ADV grew its holdings in shares of Gilead Sciences by 55.9% during the first quarter. Creative Financial Designs Inc. ADV now owns 460 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 165 shares during the last quarter. Weaver Consulting Group bought a new position in shares of Gilead Sciences during the first quarter valued at about $34,000. Trustcore Financial Services LLC bought a new position in shares of Gilead Sciences during the first quarter valued at about $34,000. Legacy Advisors LLC bought a new position in shares of Gilead Sciences during the second quarter valued at about $37,000. Finally, Founders Capital Management lifted its position in shares of Gilead Sciences by 50.0% during the first quarter. Founders Capital Management now owns 600 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. 78.87% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Brett A. Pletcher sold 5,816 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $68.75, for a total value of $399,850.00. Following the transaction, the executive vice president now owns 27,198 shares in the company, valued at approximately $1,869,862.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brett A. Pletcher sold 7,200 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $65.07, for a total transaction of $468,504.00. Following the completion of the transaction, the executive vice president now owns 34,398 shares in the company, valued at approximately $2,238,277.86. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.14. The company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.54 billion. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. Gilead Sciences’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.91 EPS. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 6.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, September 12th. Gilead Sciences’s payout ratio is presently 40.98%.
Several brokerages have commented on GILD. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Gilead Sciences in a research report on Wednesday, July 31st. Maxim Group set a $84.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Raymond James lifted their price objective on shares of Gilead Sciences from $83.00 to $86.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 31st. Evercore ISI reaffirmed a “buy” rating on shares of Gilead Sciences in a research report on Friday, May 17th. Finally, Oppenheimer set a $85.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $82.29.
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.
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