Palisades Hudson Asset Management L.P. Has $257,000 Position in Gilead Sciences, Inc. (GILD)
Palisades Hudson Asset Management L.P. maintained its stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,790 shares of the biopharmaceutical company’s stock at the end of the first quarter. Palisades Hudson Asset Management L.P.’s holdings in Gilead Sciences were worth $257,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in Gilead Sciences by 3.2% in the fourth quarter. Teachers Advisors LLC now owns 1,983,267 shares of the biopharmaceutical company’s stock worth $142,022,000 after buying an additional 61,179 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in Gilead Sciences during the fourth quarter worth approximately $6,846,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Gilead Sciences during the fourth quarter worth approximately $3,054,000. Opus Point Partners Management LLC acquired a new stake in Gilead Sciences during the fourth quarter worth approximately $244,000. Finally, Highbridge Capital Management LLC boosted its stake in Gilead Sciences by 15.1% in the fourth quarter. Highbridge Capital Management LLC now owns 422,835 shares of the biopharmaceutical company’s stock worth $30,279,000 after buying an additional 55,381 shares during the last quarter. Institutional investors own 74.02% of the company’s stock.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) traded down 0.9542% during mid-day trading on Thursday, reaching $72.6501. The company’s stock had a trading volume of 2,043,123 shares. Gilead Sciences, Inc. has a 12-month low of $63.76 and a 12-month high of $82.10. The company’s 50-day moving average price is $72.56 and its 200-day moving average price is $68.80. The stock has a market capitalization of $94.88 billion, a P/E ratio of 7.8907 and a beta of 1.21.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.45. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.08 EPS. On average, equities research analysts forecast that Gilead Sciences, Inc. will post $8.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.84%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s dividend payout ratio is presently 22.58%.
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A number of equities research analysts have recently commented on GILD shares. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 21st. Piper Jaffray Companies restated a “buy” rating on shares of Gilead Sciences in a research note on Friday, April 21st. Barclays PLC restated an “overweight” rating and issued a $85.00 price objective (down from $90.00) on shares of Gilead Sciences in a research note on Sunday, April 23rd. Stifel Nicolaus restated a “buy” rating and issued a $87.00 price objective on shares of Gilead Sciences in a research note on Monday, April 24th. Finally, Vetr cut Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $74.88 price objective on the stock. in a research note on Tuesday, April 25th. Twelve equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Gilead Sciences has an average rating of “Buy” and a consensus target price of $80.31.
In other Gilead Sciences news, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $75.86, for a total transaction of $5,563,041.38. Following the completion of the transaction, the insider now owns 3,199,969 shares in the company, valued at approximately $242,749,648.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregg H. Alton sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $74.00, for a total value of $2,960,000.00. Following the transaction, the executive vice president now owns 137,488 shares of the company’s stock, valued at approximately $10,174,112. The disclosure for this sale can be found here. Insiders have sold a total of 206,666 shares of company stock valued at $15,223,184 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
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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