Grisanti Capital Management LLC increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 39.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,472 shares of the biopharmaceutical company’s stock after buying an additional 36,074 shares during the period. Gilead Sciences comprises about 3.7% of Grisanti Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Grisanti Capital Management LLC’s holdings in Gilead Sciences were worth $8,726,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in GILD. Parnassus Investments CA increased its position in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares in the last quarter. Franklin Resources Inc. increased its position in Gilead Sciences by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 14,317,385 shares of the biopharmaceutical company’s stock valued at $1,025,373,000 after buying an additional 313,703 shares in the last quarter. Norges Bank purchased a new position in Gilead Sciences during the fourth quarter valued at about $997,048,000. APG Asset Management N.V. boosted its stake in shares of Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock valued at $402,319,000 after buying an additional 849,741 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Gilead Sciences by 170.9% in the fourth quarter. Renaissance Technologies LLC now owns 5,274,948 shares of the biopharmaceutical company’s stock valued at $377,739,000 after buying an additional 3,327,900 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) traded up 0.46% during mid-day trading on Friday, hitting $73.76. 8,874,021 shares of the company were exchanged. Gilead Sciences, Inc. has a 52 week low of $63.76 and a 52 week high of $88.85. The company has a 50 day moving average of $68.32 and a 200 day moving average of $68.63. The company has a market capitalization of $96.38 billion, a P/E ratio of 7.80 and a beta of 1.21.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.02. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.66 billion. Gilead Sciences had a net margin of 43.42% and a return on equity of 76.64%. Equities analysts anticipate that Gilead Sciences, Inc. will post $8.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Friday, June 16th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Wednesday, June 14th. Gilead Sciences’s dividend payout ratio is currently 21.99%.
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GILD has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Gilead Sciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 11th. William Blair reiterated an “outperform” rating on shares of Gilead Sciences in a report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and set a $82.00 price objective on shares of Gilead Sciences in a research note on Thursday, April 6th. Morgan Stanley restated an “equal weight” rating on shares of Gilead Sciences in a research note on Tuesday, July 11th. Finally, Credit Suisse Group AG restated an “outperform” rating and set a $79.00 price objective on shares of Gilead Sciences in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Gilead Sciences currently has a consensus rating of “Buy” and a consensus target price of $80.24.
In other news, Director John Francis Cogan sold 9,943 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $67.25, for a total value of $668,666.75. Following the transaction, the director now owns 47,562 shares of the company’s stock, valued at $3,198,544.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was 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 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 88,276 shares of company stock worth $6,230,610 in the last ninety days. Insiders own 1.30% of the company’s stock.
About Gilead Sciences
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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