Montecito Bank & Trust boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 42.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GILD. Hampstead Capital LLP bought a new stake in Gilead Sciences during the fourth quarter valued at about $2,936,000. City Financial Investment Co Ltd acquired a new stake in Gilead Sciences during the fourth quarter valued at $8,658,000. Bogle Investment Management L P DE raised its stake in Gilead Sciences by 5.3% in the fourth quarter. Bogle Investment Management L P DE now owns 152,106 shares of the biopharmaceutical company’s stock valued at $10,892,000 after buying an additional 7,688 shares during the last quarter. Drexel Morgan & Co. raised its stake in Gilead Sciences by 36.5% in the fourth quarter. Drexel Morgan & Co. now owns 7,480 shares of the biopharmaceutical company’s stock valued at $536,000 after buying an additional 2,000 shares during the last quarter. Finally, Moloney Securities Asset Management LLC acquired a new stake in Gilead Sciences during the fourth quarter valued at $457,000. 74.02% of the stock is currently owned by institutional investors and hedge funds.
Gilead Sciences, Inc. (NASDAQ GILD) traded down 0.32% on Friday, reaching $72.11. The company’s stock had a trading volume of 6,052,601 shares. Gilead Sciences, Inc. has a 12 month low of $63.76 and a 12 month high of $82.10. The company has a 50-day moving average price of $72.61 and a 200 day moving average price of $68.83. The company has a market cap of $94.17 billion, a P/E ratio of 7.83 and a beta of 1.21.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the prior year, the company earned $3.08 EPS. Gilead Sciences’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post $8.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors 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 annualized dividend and a dividend yield of 2.88%. Gilead Sciences’s dividend payout ratio is currently 22.58%.
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Several analysts have weighed in on the stock. BidaskClub lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BMO Capital Markets restated a “hold” rating and set a $76.00 price target (up previously from $75.00) on shares of Gilead Sciences in a research report on Wednesday, May 3rd. Cowen and Company restated an “outperform” rating and set a $90.00 price target on shares of Gilead Sciences in a research report on Wednesday, July 5th. Morgan Stanley restated an “equal weight” rating on shares of Gilead Sciences in a research report on Tuesday, July 11th. Finally, Deutsche Bank AG restated a “buy” rating and set a $81.00 price target (up previously from $79.00) on shares of Gilead Sciences in a research report on Thursday, July 27th. Eleven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Gilead Sciences currently has an average rating of “Buy” and an average target price of $80.31.
In other news, EVP Gregg H. Alton sold 15,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $71.06, for a total value of $355,300.00. Following the completion of the sale, the executive vice president now directly owns 102,988 shares of the company’s stock, valued at approximately $7,318,327.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,666 shares of company stock valued at $15,223,184. 1.30% of the stock is owned by corporate insiders.
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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