Princeton Portfolio Strategies Group LLC Buys 41 Shares of Gilead Sciences, Inc. (GILD)
Princeton Portfolio Strategies Group LLC grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,766 shares of the biopharmaceutical company’s stock after buying an additional 41 shares during the quarter. Princeton Portfolio Strategies Group LLC’s holdings in Gilead Sciences were worth $691,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of GILD. Contrarius Investment Management Ltd lifted its holdings in shares of Gilead Sciences by 2,630.1% in the 1st quarter. Contrarius Investment Management Ltd now owns 904,865 shares of the biopharmaceutical company’s stock valued at $61,458,000 after buying an additional 871,721 shares during the period. Heritage Trust Co acquired a new stake in shares of Gilead Sciences in the 1st quarter valued at approximately $3,589,000. Pitcairn Co. lifted its holdings in shares of Gilead Sciences by 37.1% in the 1st quarter. Pitcairn Co. now owns 19,231 shares of the biopharmaceutical company’s stock valued at $1,306,000 after buying an additional 5,207 shares during the period. Bienville Capital Management LLC acquired a new stake in shares of Gilead Sciences in the 1st quarter valued at approximately $570,000. Finally, Norinchukin Bank The increased its stake in Gilead Sciences by 4.2% in the 1st quarter. Norinchukin Bank The now owns 174,400 shares of the biopharmaceutical company’s stock valued at $11,845,000 after purchasing an additional 7,070 shares in the last quarter. 76.23% of the stock is owned by institutional investors and hedge funds.
In other news, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $74.98, for a total transaction of $5,498,508.34. Following the sale, the insider now owns 3,070,099 shares in the company, valued at $230,196,023.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregg H. Alton sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $74.82, for a total value of $1,122,300.00. Following the sale, the executive vice president now owns 77,363 shares in the company, valued at approximately $5,788,299.66. The disclosure for this sale can be found here. Insiders have sold 494,999 shares of company stock valued at $37,404,139 in the last three months. 1.30% of the stock is currently owned by company insiders.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.14. The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.40 billion. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. Gilead Sciences’s revenue was down 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.75 earnings per share. sell-side analysts forecast that Gilead Sciences, Inc. will post 8.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, December 14th. Gilead Sciences’s payout ratio is 23.69%.
Several equities analysts recently weighed in on GILD shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $82.00 price objective on shares of Gilead Sciences in a research note on Friday, October 20th. J P Morgan Chase & Co set a $85.00 price objective on Gilead Sciences and gave the company a “buy” rating in a research note on Wednesday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Monday, August 28th. Vetr raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $89.27 price objective for the company in a research note on Wednesday, September 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $83.00 price objective (up from $77.00) on shares of Gilead Sciences in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $85.11.
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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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