Prospera Financial Services Inc lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 16.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,947 shares of the biopharmaceutical company’s stock after selling 789 shares during the period. Prospera Financial Services Inc’s holdings in Gilead Sciences were worth $300,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Bancshares Inc. increased its stake in Gilead Sciences by 8.9% in the 3rd quarter. Northwest Bancshares Inc. now owns 28,816 shares of the biopharmaceutical company’s stock worth $2,224,000 after acquiring an additional 2,344 shares during the last quarter. DnB Asset Management AS increased its stake in Gilead Sciences by 4.4% in the 2nd quarter. DnB Asset Management AS now owns 156,552 shares of the biopharmaceutical company’s stock worth $11,090,000 after acquiring an additional 6,600 shares during the last quarter. Swedbank increased its stake in Gilead Sciences by 103.7% in the 3rd quarter. Swedbank now owns 3,906,172 shares of the biopharmaceutical company’s stock worth $301,596,000 after acquiring an additional 1,988,987 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of Gilead Sciences by 15.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 68,466 shares of the biopharmaceutical company’s stock valued at $5,286,000 after purchasing an additional 9,342 shares during the last quarter. Finally, Fairpointe Capital LLC bought a new position in shares of Gilead Sciences during the 2nd quarter valued at about $708,000. 77.57% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on GILD. Wells Fargo & Co increased their price objective on Gilead Sciences from $89.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Robert W. Baird lowered Gilead Sciences from an “outperform” rating to a “neutral” rating and set a $79.00 price objective on the stock. in a research report on Thursday, July 26th. Cantor Fitzgerald began coverage on Gilead Sciences in a research report on Monday, October 1st. They set an “overweight” rating and a $87.00 price objective on the stock. BidaskClub upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, September 29th. Finally, ValuEngine upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Gilead Sciences currently has a consensus rating of “Buy” and an average price target of $88.63.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.21. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.44 billion. Gilead Sciences had a return on equity of 39.32% and a net margin of 7.12%. During the same quarter last year, the company earned $2.27 EPS. On average, equities research analysts forecast that Gilead Sciences, Inc. will post 6.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.37%. Gilead Sciences’s dividend payout ratio (DPR) is currently 26.64%.
In related news, Director John C. Martin sold 50,000 shares of Gilead Sciences 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 transaction, the director now directly owns 3,067,762 shares in the company, valued at $213,362,847.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 150,000 shares of company stock worth $11,087,500. Company insiders own 1.16% of the company’s stock.
Gilead Sciences Company 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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