Texas Capital Bank Wealth Management Services Inc Makes New Investment in Gilead Sciences, Inc. $GILD

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,625 shares of the biopharmaceutical company’s stock, valued at approximately $963,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Gilead Sciences during the 2nd quarter worth about $15,393,785,000. Norges Bank acquired a new position in Gilead Sciences in the 4th quarter valued at about $2,617,152,000. Deutsche Bank AG acquired a new position in Gilead Sciences in the 2nd quarter valued at about $918,387,000. Boston Partners purchased a new stake in Gilead Sciences during the fourth quarter worth about $517,808,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Gilead Sciences during the second quarter worth about $398,905,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD opened at $138.92 on Tuesday. The stock has a 50-day simple moving average of $130.33 and a 200-day simple moving average of $136.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27. The stock has a market capitalization of $172.25 billion, a PE ratio of -52.03 and a beta of 0.32. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year high of $157.29.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The firm had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same period in the prior year, the firm earned $2.01 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Gilead Sciences, Inc. will post -0.53 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio is -122.85%.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 3,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $125.40, for a total value of $376,200.00. Following the transaction, the chief financial officer owned 171,646 shares in the company, valued at approximately $21,524,408.40. This represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $130.31, for a total value of $1,954,650.00. Following the sale, the chief executive officer owned 592,133 shares of the company’s stock, valued at approximately $77,160,851.23. The trade was a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 51,000 shares of company stock worth $6,568,860 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GILD shares. Barclays reduced their price target on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. HSBC raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and upped their target price for the stock from $133.00 to $155.00 in a research note on Monday, July 6th. Weiss Ratings lowered shares of Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Needham & Company LLC reissued a “buy” rating and issued a $170.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Finally, Maxim Group upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Wednesday, May 20th. Twenty-four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $158.04.

Gilead Sciences Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.