Traynor Capital Management Inc. Has $1.87 Million Position in Gilead Sciences, Inc. (GILD)
Traynor Capital Management Inc. lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 18.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,080 shares of the biopharmaceutical company’s stock after selling 5,686 shares during the period. Gilead Sciences comprises 0.9% of Traynor Capital Management Inc.’s portfolio, making the stock its 24th largest position. Traynor Capital Management Inc.’s holdings in Gilead Sciences were worth $1,869,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Keel Point LLC boosted its holdings in Gilead Sciences by 0.4% in the first quarter. Keel Point LLC now owns 3,111 shares of the biopharmaceutical company’s stock valued at $211,000 after purchasing an additional 11 shares during the last quarter. West Oak Capital LLC boosted its holdings in Gilead Sciences by 0.7% in the second quarter. West Oak Capital LLC now owns 4,666 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 32 shares during the last quarter. First Heartland Consultants Inc. boosted its holdings in Gilead Sciences by 0.4% in the second quarter. First Heartland Consultants Inc. now owns 8,927 shares of the biopharmaceutical company’s stock valued at $632,000 after purchasing an additional 39 shares during the last quarter. Arrow Financial Corp boosted its holdings in Gilead Sciences by 0.3% in the second quarter. Arrow Financial Corp now owns 17,771 shares of the biopharmaceutical company’s stock valued at $1,258,000 after purchasing an additional 45 shares during the last quarter. Finally, Westover Capital Advisors LLC boosted its holdings in Gilead Sciences by 0.8% in the first quarter. Westover Capital Advisors LLC now owns 5,563 shares of the biopharmaceutical company’s stock valued at $378,000 after purchasing an additional 46 shares during the last quarter. 73.98% of the stock is owned by hedge funds and other institutional investors.
Gilead Sciences, Inc. (GILD) opened at 81.30 on Friday. Gilead Sciences, Inc. has a 12-month low of $63.76 and a 12-month high of $86.27. The company has a market capitalization of $106.17 billion, a price-to-earnings ratio of 8.83 and a beta of 1.14. The firm’s 50-day moving average price is $82.03 and its 200 day moving average price is $72.08.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.45. The firm had revenue of $7.14 billion during 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 company’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 business earned $3.08 EPS. On average, equities research analysts expect that Gilead Sciences, Inc. will post $8.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 15th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, September 14th. Gilead Sciences’s payout ratio is presently 22.58%.
A number of research analysts recently commented on the company. BidaskClub downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Argus raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Thursday, August 31st. Vetr downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $82.15 price target for the company. in a report on Monday, August 28th. Cowen and Company reissued an “outperform” rating and issued a $90.00 price target on shares of Gilead Sciences in a report on Wednesday, July 5th. Finally, Wells Fargo & Company increased their price target on Gilead Sciences from $73.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, September 6th. Twelve research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $85.96.
In other news, insider John C. Martin sold 73,333 shares of the stock in a transaction dated Tuesday, August 1st. The shares were 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 directly 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 SEC, which is available at this link. Also, EVP Gregg H. Alton sold 40,000 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $74.00, for a total transaction of $2,960,000.00. Following the transaction, the executive vice president now owns 137,488 shares of the company’s stock, valued at $10,174,112. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 486,819 shares of company stock valued at $39,298,919. Company insiders own 1.30% of the company’s stock.
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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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