Eliot Finkel Investment Counsel LLC Maintains Stake in Gilead Sciences, Inc. (GILD)
Eliot Finkel Investment Counsel LLC continued to hold its stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,470 shares of the biopharmaceutical company’s stock at the close of the second quarter. Gilead Sciences makes up about 2.3% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its 26th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Gilead Sciences were worth $3,148,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in GILD. Harel Insurance Investments & Financial Services Ltd. grew its position in Gilead Sciences by 583.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock valued at $110,000 after acquiring an additional 1,400 shares during the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of Gilead Sciences by 19.4% during the first quarter. Dubuque Bank & Trust Co. now owns 1,642 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 267 shares during the period. Penserra Capital Management LLC grew its holdings in shares of Gilead Sciences by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 144 shares during the last quarter. Webster Bank N. A. grew its holdings in shares of Gilead Sciences by 51.7% in the first quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock worth $125,000 after purchasing an additional 624 shares during the last quarter. Finally, American Beacon Advisors Inc. bought a new position in shares of Gilead Sciences in the first quarter worth about $143,000. 73.99% of the stock is owned by institutional investors.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) opened at 83.52 on Tuesday. The stock’s 50 day moving average price is $79.84 and its 200 day moving average price is $71.30. The stock has a market cap of $109.07 billion, a PE ratio of 9.07 and a beta of 1.14. Gilead Sciences, Inc. has a 1-year low of $63.76 and a 1-year high of $86.27.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, beating the 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%. Gilead Sciences’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.08 earnings per share. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post $8.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 15th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.49%. The ex-dividend date was Thursday, September 14th. Gilead Sciences’s dividend payout ratio is currently 22.58%.
In other news, EVP Gregg H. Alton sold 40,000 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $74.00, for a total value of $2,960,000.00. Following the completion of the transaction, the executive vice president now owns 137,488 shares of the company’s stock, valued at $10,174,112. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robin L. Washington sold 51,820 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $85.00, for a total value of $4,404,700.00. Following the completion of the transaction, the chief financial officer now directly owns 43,352 shares of the company’s stock, valued at approximately $3,684,920. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 388,486 shares of company stock worth $31,178,297. 1.30% of the stock is owned by insiders.
A number of brokerages recently weighed in on GILD. BidaskClub lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Mizuho reiterated a “buy” rating on shares of Gilead Sciences in a report on Friday. Deutsche Bank AG reissued a “buy” rating and issued a $81.00 price objective (up previously from $79.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Leerink Swann restated a “hold” rating and set a $74.00 price objective on shares of Gilead Sciences in a report on Tuesday, July 25th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $90.00 target price on shares of Gilead Sciences in a research report on Thursday, July 27th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $84.29.
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.
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