Envestnet Asset Management Inc. lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 40.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 527,672 shares of the biopharmaceutical company’s stock after purchasing an additional 151,387 shares during the period. Envestnet Asset Management Inc.’s holdings in Gilead Sciences were worth $35,842,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of GILD. Hall Laurie J Trustee grew its holdings in Gilead Sciences by 20.0% during the 1st quarter. Hall Laurie J Trustee now owns 1,500 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 250 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Gilead Sciences by 583.3% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 1,400 shares during the period. Dubuque Bank & Trust Co. grew its holdings in Gilead Sciences by 19.4% during the 1st quarter. Dubuque Bank & Trust Co. now owns 1,642 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 267 shares during the period. Penserra Capital Management LLC grew its holdings in Gilead Sciences by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 144 shares during the period. Finally, Webster Bank N. A. grew its holdings in Gilead Sciences by 51.7% during the 1st quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock worth $125,000 after acquiring an additional 624 shares during the period. 74.05% of the stock is owned by institutional investors and hedge funds.
Shares of Gilead Sciences, Inc. (GILD) traded up 0.09% during trading on Friday, reaching $82.36. 12,401,948 shares of the company traded hands. The firm’s 50-day moving average is $77.16 and its 200-day moving average is $70.20. Gilead Sciences, Inc. has a 12-month low of $63.76 and a 12-month high of $86.27. The stock has a market capitalization of $107.56 billion, a PE ratio of 8.95 and a beta of 1.19.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.45. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. Gilead Sciences’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the company earned $3.08 earnings per share. On average, equities analysts predict that Gilead Sciences, Inc. will post $8.75 earnings per share 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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.53%. Gilead Sciences’s dividend payout ratio (DPR) is 22.58%.
GILD has been the subject of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Gilead Sciences in a report on Friday, June 16th. Morgan Stanley reissued an “equal weight” rating on shares of Gilead Sciences in a report on Tuesday, July 11th. Robert W. Baird reissued an “outperform” rating and issued a $87.00 price target on shares of Gilead Sciences in a report on Tuesday, August 29th. Berenberg Bank set a $86.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a report on Tuesday, August 29th. Finally, Royal Bank Of Canada began coverage on shares of Gilead Sciences in a report on Thursday. They issued an “outperform” rating and a $94.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $83.79.
In related news, EVP Gregg H. Alton sold 5,000 shares of Gilead Sciences stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $71.06, for a total value of $355,300.00. Following the completion of the sale, the executive vice president now directly owns 102,988 shares in the company, valued at $7,318,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robin L. Washington sold 51,820 shares of Gilead Sciences stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $85.00, for a total value of $4,404,700.00. Following the completion of the sale, the chief financial officer now owns 43,352 shares of the company’s stock, valued at $3,684,920. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 466,819 shares of company stock valued at $36,740,240. Corporate insiders own 1.30% of the company’s stock.
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Gilead Sciences Company 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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