Wilsey Asset Management Inc. lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.8% during the third quarter, HoldingsChannel reports. The fund owned 149,405 shares of the biopharmaceutical company’s stock after purchasing an additional 12,078 shares during the quarter. Gilead Sciences comprises approximately 3.7% of Wilsey Asset Management Inc.’s holdings, making the stock its 15th biggest position. Wilsey Asset Management Inc.’s holdings in Gilead Sciences were worth $9,497,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of GILD. Advisors Preferred LLC acquired a new position in Gilead Sciences during the second quarter worth $26,000. Weaver Consulting Group acquired a new position in Gilead Sciences during the first quarter worth $34,000. Legacy Advisors LLC acquired a new position in Gilead Sciences during the second quarter worth $37,000. Evolution Wealth Advisors LLC acquired a new position in Gilead Sciences during the second quarter worth $46,000. Finally, Motco increased its position in Gilead Sciences by 213.6% during the second quarter. Motco now owns 690 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 470 shares during the last quarter. 79.67% of the stock is currently owned by institutional investors and hedge funds.
GILD has been the topic of several analyst reports. JPMorgan Chase & Co. reissued a “buy” rating and set a $85.00 target price on shares of Gilead Sciences in a research report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Monday, July 15th. Credit Suisse Group lowered their target price on shares of Gilead Sciences from $70.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley set a $82.00 target price on shares of Gilead Sciences and gave the stock a “hold” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group set a $95.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Gilead Sciences has a consensus rating of “Buy” and a consensus price target of $82.24.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. The firm had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 earnings per share. As a group, research analysts anticipate that Gilead Sciences, Inc. will post 6.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, September 12th. Gilead Sciences’s dividend payout ratio is 40.98%.
In other news, EVP Brett A. Pletcher sold 608 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $64.35, for a total transaction of $39,124.80. Following the completion of the sale, the executive vice president now owns 27,198 shares of the company’s stock, valued at $1,750,191.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Brett A. Pletcher sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $65.07, for a total transaction of $468,504.00. Following the sale, the executive vice president now directly owns 34,398 shares of the company’s stock, valued at approximately $2,238,277.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,716 shares of company stock valued at $821,299. Corporate insiders own 0.20% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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