FineMark National Bank & Trust trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 17.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,316 shares of the biopharmaceutical company’s stock after selling 4,409 shares during the quarter. FineMark National Bank & Trust’s holdings in Gilead Sciences were worth $1,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Doyle Wealth Management bought a new position in shares of Gilead Sciences in the first quarter worth approximately $8,133,000. American Research & Management Co. boosted its position in shares of Gilead Sciences by 158.2% in the first quarter. American Research & Management Co. now owns 11,875 shares of the biopharmaceutical company’s stock worth $807,000 after purchasing an additional 7,275 shares during the period. Berkshire Asset Management LLC PA bought a new position in shares of Gilead Sciences in the first quarter worth approximately $270,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Gilead Sciences in the first quarter worth approximately $943,000. Finally, Portland Global Advisors LLC boosted its position in shares of Gilead Sciences by 5.8% in the first quarter. Portland Global Advisors LLC now owns 3,678 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 200 shares during the period. Institutional investors own 74.05% of the company’s stock.

A number of equities analysts have weighed in on GILD shares. William Blair reiterated an “outperform” rating on shares of Gilead Sciences in a research report on Friday, June 16th. Morgan Stanley reiterated an “equal weight” rating on shares of Gilead Sciences in a research report on Tuesday, July 11th. Robert W. Baird reiterated an “outperform” rating and issued a $87.00 price target on shares of Gilead Sciences in a research report on Tuesday, August 29th. Berenberg Bank set a $86.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Finally, Leerink Swann restated a “hold” rating and set a $74.00 target price on shares of Gilead Sciences in a research report on Tuesday, July 25th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $83.06.

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In other Gilead Sciences news, EVP Gregg H. Alton sold 25,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $83.05, for a total transaction of $2,076,250.00. Following the sale, the executive vice president now directly owns 101,488 shares in the company, valued at $8,428,578.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 414,999 shares of company stock worth $32,335,540 over the last quarter. Insiders own 1.30% of the company’s stock.

Gilead Sciences, Inc. (NASDAQ GILD) opened at 85.10 on Friday. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $86.27. The company has a market capitalization of $111.13 billion, a PE ratio of 9.24 and a beta of 1.19. The firm’s 50-day moving average is $75.84 and its 200 day moving average is $69.71.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.08 earnings per share. On average, equities analysts expect that Gilead Sciences, Inc. will post $8.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.44%. Gilead Sciences’s dividend payout ratio (DPR) is presently 22.58%.

About Gilead Sciences

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.

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

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