Gilead Sciences, Inc. (GILD) Shares Sold by Lincoln National Corp
Lincoln National Corp cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,502 shares of the biopharmaceutical company’s stock after selling 139 shares during the period. Lincoln National Corp’s holdings in Gilead Sciences were worth $510,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock valued at $2,076,368,000 after buying an additional 2,727,063 shares in the last quarter. Parnassus Investments CA raised its stake in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Gilead Sciences by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 14,317,385 shares of the biopharmaceutical company’s stock valued at $1,025,373,000 after buying an additional 313,703 shares in the last quarter. Norges Bank purchased a new stake in shares of Gilead Sciences during the fourth quarter valued at about $997,048,000. Finally, APG Asset Management N.V. raised its stake in shares of Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock valued at $402,319,000 after buying an additional 849,741 shares in the last quarter. Institutional investors own 74.05% of the company’s stock.
Shares of Gilead Sciences, Inc. (NASDAQ GILD) opened at 73.74 on Wednesday. The firm has a market capitalization of $96.36 billion, a P/E ratio of 7.79 and a beta of 1.21. The stock has a 50 day moving average price of $68.84 and a 200 day moving average price of $68.56. Gilead Sciences, Inc. has a 12 month low of $63.76 and a 12 month high of $84.15.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.18 by $0.02. Gilead Sciences had a net margin of 43.42% and a return on equity of 76.64%. The firm had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.66 billion. On average, analysts expect that Gilead Sciences, Inc. will post $8.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Friday, June 16th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $2.08 annualized dividend and a yield of 2.82%. Gilead Sciences’s dividend payout ratio (DPR) is presently 21.99%.
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GILD has been the subject of several recent research reports. Vetr upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $74.58 price objective for the company in a report on Tuesday, April 18th. Jefferies Group LLC reiterated a “buy” rating and set a $82.00 price objective on shares of Gilead Sciences in a report on Thursday, April 6th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $82.00 price objective on shares of Gilead Sciences in a report on Thursday, April 6th. Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Tuesday, May 2nd. Finally, Barclays PLC reiterated an “overweight” rating and set a $85.00 price objective (down from $90.00) on shares of Gilead Sciences in a report on Sunday, April 23rd. Fifteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Gilead Sciences has an average rating of “Buy” and a consensus target price of $80.09.
In other Gilead Sciences news, Director John Francis Cogan sold 9,943 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $67.25, for a total transaction of $668,666.75. Following the sale, the director now directly owns 47,562 shares of the company’s stock, valued at approximately $3,198,544.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $71.06, for a total transaction of $355,300.00. Following the sale, the executive vice president now directly owns 102,988 shares in the company, valued at $7,318,327.28. The disclosure for this sale can be found here. Insiders have sold a total of 128,276 shares of company stock worth $9,190,610 over the last three months. Insiders own 1.30% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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