Riverhead Capital Management LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.7% during the 3rd quarter, Holdings Channel reports. The firm owned 103,376 shares of the biopharmaceutical company’s stock after selling 8,586 shares during the quarter. Riverhead Capital Management LLC’s holdings in Gilead Sciences were worth $7,982,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Resource Management LLC lifted its holdings in Gilead Sciences by 6.7% in the second quarter. Resource Management LLC now owns 10,688 shares of the biopharmaceutical company’s stock valued at $757,000 after acquiring an additional 674 shares during the last quarter. Stralem & Co. Inc. lifted its holdings in Gilead Sciences by 8.0% in the third quarter. Stralem & Co. Inc. now owns 9,400 shares of the biopharmaceutical company’s stock valued at $726,000 after acquiring an additional 700 shares during the last quarter. Silverleafe Capital Partners LLC lifted its holdings in Gilead Sciences by 17.4% in the third quarter. Silverleafe Capital Partners LLC now owns 4,719 shares of the biopharmaceutical company’s stock valued at $364,000 after acquiring an additional 701 shares during the last quarter. Reilly Financial Advisors LLC lifted its holdings in Gilead Sciences by 98.3% in the third quarter. Reilly Financial Advisors LLC now owns 1,420 shares of the biopharmaceutical company’s stock valued at $110,000 after acquiring an additional 704 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in Gilead Sciences by 0.4% in the second quarter. Kornitzer Capital Management Inc. KS now owns 174,000 shares of the biopharmaceutical company’s stock valued at $12,326,000 after acquiring an additional 710 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.
In other news, Director John C. Martin sold 50,000 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $69.55, for a total transaction of $3,477,500.00. Following the sale, the director now owns 3,067,762 shares of the company’s stock, valued at $213,362,847.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 150,000 shares of company stock worth $10,939,500 in the last ninety days. Corporate insiders own 1.16% of the company’s stock.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.21. Gilead Sciences had a return on equity of 39.32% and a net margin of 7.12%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. Analysts predict that Gilead Sciences, Inc. will post 6.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, December 13th. Gilead Sciences’s dividend payout ratio is currently 26.64%.
A number of research firms recently commented on GILD. ValuEngine upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a report on Saturday. Piper Jaffray Companies set a $85.00 price objective on Gilead Sciences and gave the company a “buy” rating in a report on Wednesday, September 12th. Mizuho set a $94.00 price objective on Gilead Sciences and gave the company a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research cut Gilead Sciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, Raymond James cut their target price on Gilead Sciences from $97.00 to $94.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 26th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $88.63.
Gilead Sciences Profile
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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