Means Investment CO. Inc. Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Means Investment CO. Inc. decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 12.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,309 shares of the biopharmaceutical company’s stock after selling 1,215 shares during the period. Means Investment CO. Inc.’s holdings in Gilead Sciences were worth $542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA purchased a new stake in Gilead Sciences in the 2nd quarter worth $203,000. DNB Asset Management AS increased its stake in Gilead Sciences by 8.8% in the 2nd quarter. DNB Asset Management AS now owns 316,426 shares of the biopharmaceutical company’s stock worth $21,378,000 after buying an additional 25,719 shares in the last quarter. Denali Advisors LLC increased its stake in Gilead Sciences by 14.5% in the 2nd quarter. Denali Advisors LLC now owns 163,003 shares of the biopharmaceutical company’s stock worth $11,012,000 after buying an additional 20,700 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in Gilead Sciences by 22.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,946 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 724 shares in the last quarter. Finally, Cooper Financial Group increased its stake in Gilead Sciences by 4.3% in the 2nd quarter. Cooper Financial Group now owns 3,604 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 149 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Shares of Gilead Sciences stock traded down $0.32 during trading on Tuesday, reaching $64.32. 364,625 shares of the stock traded hands, compared to its average volume of 6,286,513. The company has a market capitalization of $82.72 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 3.47 and a beta of 1.09. The business has a fifty day simple moving average of $64.10 and a two-hundred day simple moving average of $65.28. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.96 and a quick ratio of 2.87. Gilead Sciences, Inc. has a 52-week low of $60.32 and a 52-week high of $72.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, October 24th. The biopharmaceutical company reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.01. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.61 billion. Gilead Sciences had a return on equity of 37.50% and a net margin of 12.04%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 earnings per share. On average, research analysts predict that Gilead Sciences, Inc. will post 6.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, December 12th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.92%. Gilead Sciences’s payout ratio is 40.98%.

In related news, EVP Brett A. Pletcher sold 5,677 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $63.31, for a total value of $359,410.87. Following the completion of the transaction, the executive vice president now owns 21,521 shares of the company’s stock, valued at approximately $1,362,494.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Olsen Per Wold sold 4,908 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $63.91, for a total transaction of $313,670.28. Following the completion of the transaction, the director now directly owns 102,762 shares of the company’s stock, valued at approximately $6,567,519.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,288 shares of company stock valued at $1,108,682. Company insiders own 0.20% of the company’s stock.

A number of equities research analysts have issued reports on GILD shares. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Monday, July 15th. Guggenheim set a $86.00 price target on Gilead Sciences and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America started coverage on Gilead Sciences in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $70.00 price target for the company. BMO Capital Markets cut their price target on Gilead Sciences from $82.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Raymond James cut their price target on Gilead Sciences from $85.00 to $81.00 and set a “strong-buy” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Gilead Sciences has a consensus rating of “Buy” and a consensus target price of $78.87.

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

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