Veritable L.P. lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 11.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,508 shares of the biopharmaceutical company’s stock after selling 7,260 shares during the quarter. Veritable L.P.’s holdings in Gilead Sciences were worth $3,929,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in GILD. Lipe & Dalton grew its holdings in Gilead Sciences by 6.5% in the first quarter. Lipe & Dalton now owns 38,615 shares of the biopharmaceutical company’s stock worth $2,623,000 after purchasing an additional 2,360 shares during the period. Mutual of America Capital Management LLC grew its holdings in Gilead Sciences by 6.2% in the first quarter. Mutual of America Capital Management LLC now owns 202,117 shares of the biopharmaceutical company’s stock worth $13,728,000 after purchasing an additional 11,791 shares during the period. Intellectus Partners LLC grew its holdings in Gilead Sciences by 17.5% in the first quarter. Intellectus Partners LLC now owns 18,240 shares of the biopharmaceutical company’s stock worth $1,239,000 after purchasing an additional 2,715 shares during the period. Buckingham Asset Management LLC grew its holdings in Gilead Sciences by 7.9% in the first quarter. Buckingham Asset Management LLC now owns 6,573 shares of the biopharmaceutical company’s stock worth $446,000 after purchasing an additional 483 shares during the period. Finally, Contrarius Investment Management Ltd grew its holdings in shares of Gilead Sciences by 2,630.1% during the first quarter. Contrarius Investment Management Ltd now owns 904,865 shares of the biopharmaceutical company’s stock valued at $61,458,000 after buying an additional 871,721 shares during the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.
Gilead Sciences, Inc. (GILD) opened at $75.34 on Friday. The firm has a market cap of $98,414.30, a P/E ratio of 7.86, a P/E/G ratio of -1.26 and a beta of 1.14. Gilead Sciences, Inc. has a 52-week low of $63.76 and a 52-week high of $86.27. The company has a current ratio of 3.68, a quick ratio of 3.56 and a debt-to-equity ratio of 1.10.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.76%. Gilead Sciences’s dividend payout ratio (DPR) is 23.69%.
In other Gilead Sciences news, insider John C. Martin sold 73,333 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $82.56, for a total value of $6,054,372.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robin L. Washington sold 51,820 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the completion of the transaction, the chief financial officer now owns 43,352 shares in the company, valued at $3,684,920. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 458,486 shares of company stock worth $35,190,731. 1.30% of the stock is owned by insiders.
A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Mizuho reiterated a “buy” rating on shares of Gilead Sciences in a report on Friday, September 29th. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, October 19th. Berenberg Bank reiterated a “buy” rating and set a $86.00 price target (up previously from $79.00) on shares of Gilead Sciences in a report on Sunday, August 20th. Finally, Cowen reiterated an “outperform” rating and set a $90.00 price target on shares of Gilead Sciences in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $85.22.
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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