Cidel Asset Management Inc. Cuts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Cidel Asset Management Inc. lowered its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,572 shares of the biopharmaceutical company’s stock after selling 761 shares during the period. Cidel Asset Management Inc.’s holdings in Gilead Sciences were worth $728,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Sawyer & Company Inc purchased a new position in Gilead Sciences during the 2nd quarter valued at approximately $28,000. Meridian Wealth Partners LLC purchased a new position in Gilead Sciences during the 1st quarter valued at approximately $32,000. Elmwood Wealth Management Inc. purchased a new position in Gilead Sciences during the 1st quarter valued at approximately $35,000. Burleson & Company LLC purchased a new position in Gilead Sciences during the 1st quarter valued at approximately $43,000. Finally, Lumature Wealth Partners LLC purchased a new position in Gilead Sciences during the 1st quarter valued at approximately $51,000. Hedge funds and other institutional investors own 78.04% of the company’s stock.

In other Gilead Sciences news, CAO Diane E. Wilfong sold 13,610 shares of the firm’s stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $72.50, for a total transaction of $986,725.00. Following the transaction, the chief accounting officer now directly owns 30,179 shares in the company, valued at approximately $2,187,977.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.12% of the company’s stock.

Several research firms have weighed in on GILD. SVB Leerink raised their price target on Gilead Sciences from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Royal Bank of Canada reaffirmed a “buy” rating and issued a C$84.00 price objective on shares of Gilead Sciences in a research note on Monday, August 23rd. Oppenheimer initiated coverage on Gilead Sciences in a research note on Monday, June 28th. They issued a “buy” rating and a $100.00 price objective for the company. Morgan Stanley reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Gilead Sciences in a research note on Friday, August 27th. Finally, BMO Capital Markets raised their price objective on Gilead Sciences from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Friday, July 30th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Gilead Sciences currently has a consensus rating of “Buy” and a consensus target price of $104.74.

Shares of GILD stock traded up $1.78 on Wednesday, reaching $72.23. 330,036 shares of the company’s stock were exchanged, compared to its average volume of 7,338,444. Gilead Sciences, Inc. has a 52 week low of $56.56 and a 52 week high of $73.34. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $90.56 billion, a PE ratio of 17.18, a P/E/G ratio of 0.63 and a beta of 0.39. The company’s fifty day simple moving average is $70.17 and its 200 day simple moving average is $67.59.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, July 29th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.76 by $0.11. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.15 billion. Gilead Sciences had a return on equity of 55.94% and a net margin of 19.38%. During the same period last year, the business posted $1.11 EPS. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 7.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 15th will be issued a dividend of $0.71 per share. The ex-dividend date is Tuesday, September 14th. This represents a $2.84 annualized dividend and a yield of 3.93%. Gilead Sciences’s payout ratio is currently 40.06%.

Gilead Sciences Profile

Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.

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

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