Concorde Asset Management LLC Invests $212,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Concorde Asset Management LLC purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,248 shares of the biopharmaceutical company’s stock, valued at approximately $212,000.

Other hedge funds also recently made changes to their positions in the company. Barrett Asset Management LLC grew its stake in shares of Gilead Sciences by 333.0% in the fourth quarter. Barrett Asset Management LLC now owns 433 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 333 shares during the period. TFO TDC LLC bought a new stake in Gilead Sciences during the fourth quarter valued at approximately $26,000. Tortoise Investment Management LLC grew its position in Gilead Sciences by 81.6% during the fourth quarter. Tortoise Investment Management LLC now owns 445 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 200 shares during the period. Graves Light Private Wealth Management Inc. purchased a new position in Gilead Sciences during the fourth quarter valued at approximately $27,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of Gilead Sciences in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 76.36% of the company’s stock.

In other Gilead Sciences news, EVP Brett A. Pletcher sold 1,486 shares of the firm’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $63.36, for a total value of $94,152.96. Following the transaction, the executive vice president now owns 29,166 shares in the company, valued at approximately $1,847,957.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brett A. Pletcher sold 1,975 shares of the firm’s stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $67.41, for a total value of $133,134.75. Following the completion of the transaction, the executive vice president now owns 28,832 shares in the company, valued at approximately $1,943,565.12. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Gilead Sciences stock opened at $65.80 on Tuesday. The company’s fifty day moving average price is $65.14 and its 200 day moving average price is $62.74. Gilead Sciences, Inc. has a 1 year low of $56.56 and a 1 year high of $81.76. The stock has a market capitalization of $82.85 billion, a P/E ratio of 67.84, a P/E/G ratio of 0.67 and a beta of 0.51. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.15 and a current ratio of 3.25.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 29th. The biopharmaceutical company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. Gilead Sciences had a net margin of 5.48% and a return on equity of 37.77%. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.06 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 29th. Shareholders of record on Tuesday, June 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, June 14th. This represents a $2.84 dividend on an annualized basis and a yield of 4.32%. Gilead Sciences’s payout ratio is currently 46.25%.

A number of research analysts have weighed in on GILD shares. TheStreet upgraded shares of Gilead Sciences from a “c” rating to a “b-” rating in a research report on Tuesday, March 30th. Sanford C. Bernstein upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Thursday, April 1st. Credit Suisse Group boosted their price objective on shares of Gilead Sciences from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, February 5th. SVB Leerink boosted their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Redburn Partners upgraded shares of Gilead Sciences from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 30th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $98.21.

Gilead Sciences Profile

Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.

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

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