Eagle Asset Management Inc. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 43.5% during the first quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in 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 period. Parnassus Investments CA boosted its stake in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Norges Bank bought a new stake in Gilead Sciences during the fourth quarter valued at $997,048,000. APG Asset Management N.V. boosted its stake in 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 valued at $402,319,000 after buying an additional 849,741 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Gilead Sciences by 26.9% in the first quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock valued at $317,059,000 after buying an additional 989,400 shares during the last quarter. Institutional investors own 74.02% of the company’s stock.
Gilead Sciences, Inc. (NASDAQ:GILD) traded down 0.32% during trading on Friday, hitting $72.11. 6,052,601 shares of the stock traded hands. The firm has a 50-day moving average price of $72.61 and a 200 day moving average price of $68.83. Gilead Sciences, Inc. has a 52-week low of $63.76 and a 52-week high of $82.10. The company has a market cap of $94.17 billion, a P/E ratio of 7.83 and a beta of 1.21.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.88%. Gilead Sciences’s dividend payout ratio is presently 22.58%.
A number of brokerages have commented on GILD. BidaskClub cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $76.00 price objective (up previously from $75.00) on shares of Gilead Sciences in a report on Wednesday, May 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Gilead Sciences in a report on Wednesday, July 5th. Morgan Stanley reissued an “equal weight” rating on shares of Gilead Sciences in a report on Tuesday, July 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $81.00 price objective (up from $79.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Twelve 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 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 Gilead Sciences stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $71.06, for a total transaction of $355,300.00. Following the completion of the sale, the executive vice president now owns 102,988 shares of the company’s stock, valued at $7,318,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg H. Alton sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $75.88, for a total value of $1,138,200.00. Following the completion of the sale, the executive vice president now owns 106,113 shares of the company’s stock, valued at $8,051,854.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,666 shares of company stock valued at $15,223,184. Corporate insiders own 1.30% of the company’s stock.
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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