Gilead Sciences, Inc. (NASDAQ:GILD) Stake Cut by Jolley Asset Management LLC

Jolley Asset Management LLC cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,376 shares of the biopharmaceutical company’s stock after selling 4,154 shares during the quarter. Gilead Sciences accounts for about 2.2% of Jolley Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Jolley Asset Management LLC’s holdings in Gilead Sciences were worth $3,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Parnassus Investments CA increased its holdings in shares of Gilead Sciences by 13.3% during the third quarter. Parnassus Investments CA now owns 10,133,261 shares of the biopharmaceutical company’s stock valued at $642,246,000 after purchasing an additional 1,187,424 shares during the period. Railway Pension Investments Ltd increased its holdings in shares of Gilead Sciences by 66.6% during the third quarter. Railway Pension Investments Ltd now owns 1,639,915 shares of the biopharmaceutical company’s stock valued at $103,937,000 after purchasing an additional 655,316 shares during the period. Cambiar Investors LLC acquired a new position in shares of Gilead Sciences during the third quarter valued at $41,394,000. Squarepoint Ops LLC increased its holdings in shares of Gilead Sciences by 162.6% during the third quarter. Squarepoint Ops LLC now owns 959,774 shares of the biopharmaceutical company’s stock valued at $60,830,000 after purchasing an additional 594,316 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Gilead Sciences by 19.9% during the third quarter. California Public Employees Retirement System now owns 3,376,524 shares of the biopharmaceutical company’s stock valued at $214,004,000 after purchasing an additional 561,195 shares during the period. Hedge funds and other institutional investors own 79.27% of the company’s stock.

Shares of NASDAQ:GILD traded down $0.67 during midday trading on Friday, reaching $63.27. The company had a trading volume of 7,791,983 shares, compared to its average volume of 6,618,320. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.87 and a current ratio of 2.96. Gilead Sciences, Inc. has a 1-year low of $60.89 and a 1-year high of $70.50. The firm has a market cap of $80.26 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 3.85 and a beta of 1.11. The company has a fifty day simple moving average of $65.45 and a two-hundred day simple moving average of $65.05.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, October 24th. The biopharmaceutical company reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.01. Gilead Sciences had a return on equity of 37.50% and a net margin of 12.04%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the company posted $1.84 EPS. Gilead Sciences’s revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that Gilead Sciences, Inc. will post 6.63 EPS for the current year.

In related news, EVP Brett A. Pletcher sold 15,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.85, for a total value of $1,002,750.00. Following the completion of the transaction, the executive vice president now owns 32,064 shares in the company, valued at approximately $2,143,478.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brett A. Pletcher sold 2,950 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $64.63, for a total value of $190,658.50. Following the completion of the transaction, the executive vice president now owns 20,014 shares of the company’s stock, valued at approximately $1,293,504.82. The disclosure for this sale can be found here. Insiders sold a total of 45,622 shares of company stock valued at $2,986,438 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on GILD shares. Cowen reissued a “buy” rating and set a $85.00 price target on shares of Gilead Sciences in a report on Thursday, January 2nd. ValuEngine raised Gilead Sciences from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley set a $75.00 price target on Gilead Sciences and gave the company a “hold” rating in a report on Friday, October 25th. BidaskClub lowered Gilead Sciences from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 15th. Finally, Bank of America started coverage on Gilead Sciences in a report on Wednesday, October 16th. They set a “neutral” rating and a $70.00 target price on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $78.91.

Gilead Sciences 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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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