Eagle Asset Management Inc. decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 43.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,326 shares of the biopharmaceutical company’s stock after selling 20,278 shares during the period. Eagle Asset Management Inc.’s holdings in Gilead Sciences were worth $1,788,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock worth $2,076,368,000 after buying an additional 2,727,063 shares during the last quarter. Parnassus Investments CA increased its stake in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Norges Bank bought a new stake in shares of Gilead Sciences during the fourth quarter worth approximately $997,048,000. APG Asset Management N.V. increased its stake in shares of Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock worth $402,319,000 after buying an additional 849,741 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Gilead Sciences by 26.9% in the first quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock worth $317,059,000 after buying an additional 989,400 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) traded down 0.41% on Friday, reaching $72.40. The company’s stock had a trading volume of 7,029,745 shares. The stock has a market capitalization of $94.55 billion, a PE ratio of 7.86 and a beta of 1.21. The stock has a 50-day moving average of $72.36 and a 200 day moving average of $68.77. Gilead Sciences, Inc. has a 1-year low of $63.76 and a 1-year high of $82.10.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.45. The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.08 earnings per share. On average, equities analysts forecast that Gilead Sciences, Inc. will post $8.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, September 14th. Gilead Sciences’s dividend payout ratio is currently 22.58%.
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GILD has been the subject of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Gilead Sciences in a report on Friday, June 16th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Gilead Sciences in a report on Tuesday, July 11th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $79.00 price target on shares of Gilead Sciences in a report on Friday, May 5th. Leerink Swann reaffirmed a “hold” rating and issued a $74.00 price target on shares of Gilead Sciences in a report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Friday, July 28th. Twelve research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $80.31.
In related news, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $71.06, for a total transaction of $355,300.00. Following the completion of the transaction, the executive vice president now owns 102,988 shares in the company, valued at $7,318,327.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John C. Martin sold 73,333 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 3,199,969 shares of the company’s stock, valued at approximately $242,749,648.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,666 shares of company stock valued at $15,223,184. Corporate insiders own 1.30% of the company’s stock.
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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