Columbia Asset Management reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 26.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,681 shares of the biopharmaceutical company’s stock after selling 1,324 shares during the period. Columbia Asset Management’s holdings in Gilead Sciences were worth $250,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in GILD. Parnassus Investments CA boosted its stake in shares of Gilead Sciences by 37.4% during the 1st quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after purchasing an additional 4,556,901 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Gilead Sciences by 9.8% during the 1st quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock worth $2,076,368,000 after purchasing an additional 2,727,063 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Gilead Sciences by 75.0% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,549,292 shares of the biopharmaceutical company’s stock worth $173,148,000 after purchasing an additional 1,092,206 shares during the last quarter. Swiss National Bank boosted its stake in shares of Gilead Sciences by 26.9% during the 1st quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock worth $317,059,000 after purchasing an additional 989,400 shares during the last quarter. Finally, Cincinnati Financial Corp acquired a new stake in shares of Gilead Sciences during the 1st quarter worth about $63,737,000. 73.97% of the stock is currently owned by institutional investors.
In other news, insider John C. Martin sold 73,333 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $71.00, for a total transaction of $5,206,643.00. Following the sale, the insider now owns 3,199,969 shares in the company, valued at $227,197,799. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $71.06, for a total value of $355,300.00. Following the sale, the executive vice president now owns 102,988 shares in the company, valued at approximately $7,318,327.28. The disclosure for this sale can be found here. Insiders have sold 466,819 shares of company stock worth $36,740,240 in the last 90 days. Company insiders own 1.30% of the company’s stock.
GILD has been the topic of several analyst reports. Argus raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Thursday, August 31st. Deutsche Bank AG reiterated a “buy” rating and set a $81.00 price objective on shares of Gilead Sciences in a report on Thursday, August 31st. Credit Suisse Group reiterated an “outperform” rating and set a $85.00 price objective (up from $79.00) on shares of Gilead Sciences in a report on Tuesday, August 29th. BidaskClub upgraded shares of Gilead Sciences from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, Vetr upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $83.66 price objective on the stock in a report on Monday, June 26th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Gilead Sciences has a consensus rating of “Buy” and a consensus price target of $84.29.
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Shares of Gilead Sciences, Inc. (NASDAQ:GILD) opened at 83.27 on Friday. The company has a market capitalization of $108.74 billion, a PE ratio of 9.04 and a beta of 1.19. The company’s 50 day moving average is $77.54 and its 200-day moving average is $70.38. Gilead Sciences, Inc. has a 52 week low of $63.76 and a 52 week high of $86.27.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.08 earnings per share. On average, analysts expect that Gilead Sciences, Inc. will post $8.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s payout ratio is presently 22.58%.
Gilead Sciences Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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