First Hawaiian Bank lessened its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 40,824 shares of the biopharmaceutical company’s stock after selling 3,590 shares during the period. First Hawaiian Bank’s holdings in Gilead Sciences were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwest Bancshares Inc. boosted its holdings in shares of Gilead Sciences by 8.9% during the 3rd quarter. Northwest Bancshares Inc. now owns 28,816 shares of the biopharmaceutical company’s stock worth $2,224,000 after buying an additional 2,344 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Gilead Sciences by 646.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,069 shares of the biopharmaceutical company’s stock worth $314,000 after buying an additional 3,524 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Gilead Sciences by 6.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 100,070 shares of the biopharmaceutical company’s stock worth $7,726,000 after buying an additional 5,841 shares during the period. Beaumont Financial Partners LLC bought a new stake in shares of Gilead Sciences during the 3rd quarter worth about $319,000. Finally, Swedbank boosted its holdings in shares of Gilead Sciences by 103.7% during the 3rd quarter. Swedbank now owns 3,906,172 shares of the biopharmaceutical company’s stock worth $301,596,000 after buying an additional 1,988,987 shares during the period. 78.01% of the stock is owned by institutional investors.
GILD has been the subject of several analyst reports. ValuEngine upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Mizuho set a $94.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research cut shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. CIBC upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Thursday, January 3rd. Finally, Raymond James dropped their price objective on shares of Gilead Sciences from $97.00 to $94.00 and set a “strong-buy” rating for the company in a research note on Friday, October 26th. Ten analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Gilead Sciences has an average rating of “Buy” and an average price target of $88.39.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.63 by $0.21. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Gilead Sciences had a net margin of 7.12% and a return on equity of 39.32%. During the same period in the previous year, the company earned $2.27 EPS. As a group, research analysts expect that Gilead Sciences, Inc. will post 6.44 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Friday, December 14th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Thursday, December 13th. Gilead Sciences’s payout ratio is presently 26.64%.
In other news, Director John C. Martin sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $69.55, for a total value of $3,477,500.00. Following the completion of the transaction, the director now directly owns 3,067,762 shares in the company, valued at approximately $213,362,847.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.16% of the stock is currently owned by insiders.
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Gilead Sciences Company Profile
Gilead Sciences, Inc discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
Further Reading: What are retained earnings?
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