Convergence Investment Partners LLC Increases Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Convergence Investment Partners LLC grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,417 shares of the biopharmaceutical company’s stock after purchasing an additional 3,750 shares during the period. Gilead Sciences makes up 1.8% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 6th largest holding. Convergence Investment Partners LLC’s holdings in Gilead Sciences were worth $5,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Buckingham Asset Management LLC increased its stake in Gilead Sciences by 2.3% in the 1st quarter. Buckingham Asset Management LLC now owns 5,911 shares of the biopharmaceutical company’s stock worth $442,000 after buying an additional 131 shares during the period. Baldwin Brothers Inc. MA increased its holdings in Gilead Sciences by 63.3% in the 1st quarter. Baldwin Brothers Inc. MA now owns 351 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 136 shares in the last quarter. Twin Focus Capital Partners LLC boosted its stake in Gilead Sciences by 2.1% during the 1st quarter. Twin Focus Capital Partners LLC now owns 6,537 shares of the biopharmaceutical company’s stock worth $489,000 after purchasing an additional 137 shares during the last quarter. Malaga Cove Capital LLC boosted its stake in Gilead Sciences by 0.6% during the 2nd quarter. Malaga Cove Capital LLC now owns 24,813 shares of the biopharmaceutical company’s stock worth $1,909,000 after purchasing an additional 143 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Gilead Sciences by 4.2% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,605 shares of the biopharmaceutical company’s stock valued at $270,000 after acquiring an additional 144 shares during the last quarter. 78.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GILD stock traded down $2.80 during mid-day trading on Friday, reaching $69.53. The stock had a trading volume of 20,558,846 shares, compared to its average volume of 6,482,609. Gilead Sciences, Inc. has a 12-month low of $60.89 and a 12-month high of $85.97. The company has a market cap of $90.73 billion, a P/E ratio of -289.70, a price-to-earnings-growth ratio of 2.43 and a beta of 0.70. The business has a 50-day simple moving average of $75.47 and a 200 day simple moving average of $73.57. The company has a current ratio of 3.04, a quick ratio of 2.92 and a debt-to-equity ratio of 1.00.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.46). The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Gilead Sciences had a positive return on equity of 32.17% and a negative net margin of 1.16%. Research analysts anticipate that Gilead Sciences, Inc. will post 6.61 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 3.91%. Gilead Sciences’s dividend payout ratio is presently 44.30%.

In other Gilead Sciences news, Director John Francis Cogan sold 2,416 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $81.75, for a total value of $197,508.00. Following the sale, the director now directly owns 57,276 shares of the company’s stock, valued at approximately $4,682,313. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brett A. Pletcher sold 13,210 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $79.23, for a total value of $1,046,628.30. Following the completion of the sale, the executive vice president now directly owns 27,204 shares in the company, valued at $2,155,372.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,079 shares of company stock valued at $2,240,630. 0.13% of the stock is currently owned by company insiders.

A number of research analysts have commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $97.00 target price on shares of Gilead Sciences in a research report on Tuesday, July 21st. ValuEngine cut shares of Gilead Sciences from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 23rd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $86.00 target price on shares of Gilead Sciences in a research report on Friday. Royal Bank of Canada cut their price target on shares of Gilead Sciences from $89.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, SunTrust Banks boosted their price target on shares of Gilead Sciences from $73.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $79.63.

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.

Read More: What is a dead cat bounce?

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD).

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

Receive News & Ratings for Gilead Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences and related companies with MarketBeat.com's FREE daily email newsletter.