Gradient Investments LLC Purchases 60,264 Shares of Gilead Sciences Inc. (GILD)
Gradient Investments LLC boosted its position in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 1,839.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,540 shares of the biopharmaceutical company’s stock after buying an additional 60,264 shares during the period. Gradient Investments LLC’s holdings in Gilead Sciences were worth $5,027,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in Gilead Sciences by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 26,617,229 shares of the biopharmaceutical company’s stock worth $2,220,410,000 after buying an additional 1,023,299 shares in the last quarter. BlackRock Fund Advisors increased its stake in Gilead Sciences by 2.6% in the second quarter. BlackRock Fund Advisors now owns 24,369,287 shares of the biopharmaceutical company’s stock worth $2,032,886,000 after buying an additional 612,544 shares in the last quarter. Capital World Investors increased its stake in Gilead Sciences by 28.3% in the second quarter. Capital World Investors now owns 15,318,948 shares of the biopharmaceutical company’s stock worth $1,277,907,000 after buying an additional 3,380,000 shares in the last quarter. Alliancebernstein L.P. increased its stake in Gilead Sciences by 17.0% in the second quarter. Alliancebernstein L.P. now owns 13,346,714 shares of the biopharmaceutical company’s stock worth $1,113,383,000 after buying an additional 1,942,138 shares in the last quarter. Finally, Parnassus Investments CA increased its stake in Gilead Sciences by 45.4% in the second quarter. Parnassus Investments CA now owns 8,460,484 shares of the biopharmaceutical company’s stock worth $705,774,000 after buying an additional 2,640,284 shares in the last quarter. Institutional investors and hedge funds own 73.59% of the company’s stock.
Gilead Sciences Inc. (NASDAQ:GILD) traded down 1.56% during mid-day trading on Wednesday, reaching $73.70. The company had a trading volume of 10,588,515 shares. The firm’s 50 day moving average price is $74.54 and its 200-day moving average price is $80.07. The company has a market capitalization of $97.10 billion, a price-to-earnings ratio of 6.81 and a beta of 1.25. Gilead Sciences Inc. has a 12 month low of $71.39 and a 12 month high of $108.31.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, November 1st. The biopharmaceutical company reported $2.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.87 by $0.12. Gilead Sciences had a return on equity of 100.57% and a net margin of 47.74%. The company had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.47 billion. During the same period in the previous year, the firm earned $3.22 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities research analysts anticipate that Gilead Sciences Inc. will post $11.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.88 annualized dividend and a yield of 2.55%. Gilead Sciences’s payout ratio is 17.44%.
GILD has been the topic of a number of analyst reports. Credit Suisse Group AG lowered their price objective on Gilead Sciences from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 14th. Jefferies Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 25th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $108.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 31st. RBC Capital Markets lowered their price objective on Gilead Sciences from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 2nd. Finally, Zacks Investment Research raised Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Wednesday, September 14th. Ten research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $97.90.
In other Gilead Sciences news, EVP Gregg H. Alton sold 5,000 shares of Gilead Sciences stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $81.84, for a total transaction of $409,200.00. Following the completion of the sale, the executive vice president now directly owns 132,964 shares of the company’s stock, valued at approximately $10,881,773.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Madigan sold 105,000 shares of Gilead Sciences stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $74.86, for a total value of $7,860,300.00. Following the sale, the director now directly owns 121,761 shares of the company’s stock, valued at $9,115,028.46. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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