Cidel Asset Management Inc. lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,572 shares of the biopharmaceutical company’s stock after selling 761 shares during the quarter. Cidel Asset Management Inc.’s holdings in Gilead Sciences were worth $728,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Sawyer & Company Inc bought a new stake in Gilead Sciences in the 2nd quarter worth approximately $28,000. Meridian Wealth Partners LLC bought a new stake in Gilead Sciences in the 1st quarter worth approximately $32,000. Elmwood Wealth Management Inc. bought a new stake in Gilead Sciences in the 1st quarter worth approximately $35,000. Burleson & Company LLC bought a new stake in Gilead Sciences in the 1st quarter worth approximately $43,000. Finally, Lumature Wealth Partners LLC bought a new stake in Gilead Sciences in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 78.04% of the company’s stock.
GILD stock traded up $1.78 during midday trading on Wednesday, hitting $72.23. The stock had a trading volume of 330,036 shares, compared to its average volume of 7,338,444. The firm has a market cap of $90.56 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 0.63 and a beta of 0.39. The business has a 50-day moving average of $70.17 and a two-hundred day moving average of $67.59. Gilead Sciences, Inc. has a 52-week low of $56.56 and a 52-week high of $73.34. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.36 and a quick ratio of 1.19.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 15th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.93%. The ex-dividend date is Tuesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is 40.06%.
In other Gilead Sciences news, CAO Diane E. Wilfong sold 13,610 shares of the business’s stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $72.50, for a total value of $986,725.00. Following the sale, the chief accounting officer now directly owns 30,179 shares of the company’s stock, valued at $2,187,977.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.12% of the company’s stock.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Gilead Sciences from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a research report on Tuesday, August 10th. BMO Capital Markets boosted their price objective on Gilead Sciences from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Friday, July 30th. SVB Leerink boosted their price objective on Gilead Sciences from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Morgan Stanley reiterated a “buy” rating and issued a $83.00 price objective on shares of Gilead Sciences in a research report on Friday, August 27th. Finally, Oppenheimer began coverage on Gilead Sciences in a research report on Monday, June 28th. They issued a “buy” rating and a $100.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Buy” and an average target price of $104.74.
About Gilead Sciences
Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.
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