Gilead Sciences, Inc. (NASDAQ:GILD) Shares Bought by Montecito Bank & Trust

Montecito Bank & Trust raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 42.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,697 shares of the biopharmaceutical company’s stock after buying an additional 2,582 shares during the period. Montecito Bank & Trust’s holdings in Gilead Sciences were worth $591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Abner Herrman & Brock LLC raised its position in shares of Gilead Sciences by 0.5% in the first quarter. Abner Herrman & Brock LLC now owns 10,202 shares of the biopharmaceutical company’s stock valued at $693,000 after buying an additional 50 shares during the last quarter. Blue Fin Capital Inc. raised its position in shares of Gilead Sciences by 0.8% in the first quarter. Blue Fin Capital Inc. now owns 7,213 shares of the biopharmaceutical company’s stock valued at $489,000 after buying an additional 55 shares during the last quarter. Barrington Strategic Wealth Management Group LLC raised its position in shares of Gilead Sciences by 0.9% in the fourth quarter. Barrington Strategic Wealth Management Group LLC now owns 7,933 shares of the biopharmaceutical company’s stock valued at $568,000 after buying an additional 67 shares during the last quarter. Searle & CO. raised its position in shares of Gilead Sciences by 0.6% in the first quarter. Searle & CO. now owns 13,350 shares of the biopharmaceutical company’s stock worth $907,000 after buying an additional 80 shares in the last quarter. Finally, Alpha Windward LLC raised its position in shares of Gilead Sciences by 2.4% in the first quarter. Alpha Windward LLC now owns 3,921 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 92 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) opened at 72.40 on Friday. Gilead Sciences, Inc. has a 1-year low of $63.76 and a 1-year high of $82.10. The firm’s 50-day moving average price is $72.36 and its 200 day moving average price is $68.77. The company has a market capitalization of $94.55 billion, a PE ratio of 7.86 and a beta of 1.21.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.08 EPS. Equities analysts predict that Gilead Sciences, Inc. will post $8.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.87%. Gilead Sciences’s dividend payout ratio (DPR) is currently 22.58%.

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A number of brokerages have recently commented on GILD. BidaskClub raised Gilead Sciences from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and set a $83.00 price objective on shares of Gilead Sciences in a report on Thursday, July 27th. BMO Capital Markets restated an “outperform” rating and set a $82.00 target price (up previously from $72.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Deutsche Bank AG restated a “buy” rating and set a $81.00 target price (up previously from $79.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Finally, Cowen and Company restated an “outperform” rating and set a $90.00 target price on shares of Gilead Sciences in a research note on Thursday, July 27th. Twelve investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Gilead Sciences has an average rating of “Buy” and a consensus price target of $80.31.

In other news, insider John C. Martin sold 73,333 shares of Gilead Sciences stock in a transaction 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 completion of the sale, the insider now directly owns 3,199,969 shares of the company’s stock, valued at approximately $242,749,648.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $75.88, for a total transaction of $1,138,200.00. Following the sale, the executive vice president now directly owns 106,113 shares of the company’s stock, valued at $8,051,854.44. The disclosure for this sale can be found here. Insiders have sold a total of 206,666 shares of company stock valued at $15,223,184 over the last 90 days. Company 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.

Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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