Gilead Sciences, Inc. (GILD) Position Reduced by British Columbia Investment Management Corp

British Columbia Investment Management Corp cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 752,877 shares of the biopharmaceutical company’s stock after selling 38,225 shares during the period. British Columbia Investment Management Corp owned about 0.06% of Gilead Sciences worth $51,135,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Abner Herrman & Brock LLC raised its stake in Gilead Sciences by 0.5% in the first quarter. Abner Herrman & Brock LLC now owns 10,202 shares of the biopharmaceutical company’s stock worth $693,000 after buying an additional 50 shares in the last quarter. Blue Fin Capital Inc. raised its stake in Gilead Sciences by 0.8% in the first quarter. Blue Fin Capital Inc. now owns 7,213 shares of the biopharmaceutical company’s stock worth $489,000 after buying an additional 55 shares in the last quarter. Barrington Strategic Wealth Management Group LLC raised its stake in Gilead Sciences by 0.9% in the fourth quarter. Barrington Strategic Wealth Management Group LLC now owns 7,933 shares of the biopharmaceutical company’s stock worth $568,000 after buying an additional 67 shares in the last quarter. Searle & CO. raised its stake in Gilead Sciences by 0.6% in the first quarter. Searle & CO. now owns 13,350 shares of the biopharmaceutical company’s stock worth $907,000 after buying an additional 80 shares in the last quarter. Finally, Alpha Windward LLC raised its stake in Gilead Sciences by 2.4% in the first quarter. Alpha Windward LLC now owns 3,921 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 74.02% of the company’s stock.

Gilead Sciences, Inc. (NASDAQ GILD) traded up 0.31% on Wednesday, reaching $73.35. 5,237,283 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $72.48 and a 200-day moving average of $68.76. Gilead Sciences, Inc. has a 12-month low of $63.76 and a 12-month high of $82.10. The company has a market cap of $95.79 billion, a P/E ratio of 7.97 and a beta of 1.21.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.45. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm posted $3.08 earnings per share. Equities analysts expect that Gilead Sciences, Inc. will post $8.76 EPS for the current fiscal year.

The company 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 22.58%.

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A number of analysts have weighed in on the company. BidaskClub lowered Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Friday, July 28th. Cowen and Company reiterated an “outperform” rating and set a $90.00 price objective on shares of Gilead Sciences in a report on Thursday, July 27th. Deutsche Bank AG reiterated a “buy” rating and set a $81.00 price objective (up previously from $79.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $82.00 price objective (up previously from $72.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Twelve investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Gilead Sciences currently has an average rating of “Buy” and an average target price of $80.31.

In related news, EVP Gregg H. Alton sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $71.06, for a total transaction 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 SEC, which is accessible through the SEC website. Also, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $75.88, for a total transaction of $1,138,200.00. Following the completion of the sale, the executive vice president now owns 106,113 shares of the company’s stock, valued at $8,051,854.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 206,666 shares of company stock worth $15,223,184. 1.30% of the stock is currently owned by insiders.

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.

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

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