Abner Herrman & Brock LLC trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 21.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,170 shares of the biopharmaceutical company’s stock after selling 2,006 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Gilead Sciences were worth $554,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Gilead Sciences by 11.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,936,970 shares of the biopharmaceutical company’s stock valued at $2,191,575,000 after purchasing an additional 3,221,439 shares during the last quarter. Swedbank boosted its stake in shares of Gilead Sciences by 103.7% in the 3rd quarter. Swedbank now owns 3,906,172 shares of the biopharmaceutical company’s stock valued at $301,596,000 after purchasing an additional 1,988,987 shares during the last quarter. Natixis boosted its stake in shares of Gilead Sciences by 4,550.6% in the 2nd quarter. Natixis now owns 1,913,535 shares of the biopharmaceutical company’s stock valued at $135,555,000 after purchasing an additional 1,872,389 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Gilead Sciences by 1,631.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 997,656 shares of the biopharmaceutical company’s stock valued at $70,674,000 after purchasing an additional 940,044 shares during the last quarter. Finally, Sanders Capital LLC boosted its stake in shares of Gilead Sciences by 7.0% in the 2nd quarter. Sanders Capital LLC now owns 10,579,575 shares of the biopharmaceutical company’s stock valued at $804,126,000 after purchasing an additional 696,200 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.
GILD traded down $0.88 during trading on Friday, hitting $73.29. 401,209 shares of the company’s stock were exchanged, compared to its average volume of 6,568,269. The company has a current ratio of 3.00, a quick ratio of 2.92 and a debt-to-equity ratio of 1.23. Gilead Sciences, Inc. has a fifty-two week low of $64.27 and a fifty-two week high of $89.54. The company has a market cap of $98.03 billion, a price-to-earnings ratio of 8.72, a PEG ratio of -3.84 and a beta of 1.01.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 27th. Shareholders of record on Friday, September 14th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $2.28 annualized dividend and a yield of 3.11%. Gilead Sciences’s payout ratio is 26.64%.
In other Gilead Sciences news, Director John C. Martin sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $74.16, for a total transaction of $3,708,000.00. Following the transaction, the director now owns 3,067,762 shares in the company, valued at $227,505,229.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 150,000 shares of company stock worth $11,502,500. Corporate insiders own 1.30% of the company’s stock.
A number of equities research analysts have recently commented on GILD shares. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research note on Monday, October 1st. They issued an “overweight” rating and a $87.00 price objective on the stock. Piper Jaffray Companies set a $85.00 price objective on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Wednesday, September 12th. Zacks Investment Research downgraded shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Mizuho reiterated a “buy” rating and set a $94.00 target price on shares of Gilead Sciences in a research report on Friday, August 10th. Finally, BidaskClub downgraded shares of Gilead Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $88.24.
About Gilead Sciences
Gilead Sciences, Inc, a biopharmaceutical company, 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.
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