Carret Asset Management LLC increased its position in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 51.2% during the second quarter, Holdings Channel reports. The institutional investor owned 6,056 shares of the biopharmaceutical company’s stock after buying an additional 2,050 shares during the period. Carret Asset Management LLC’s holdings in Gilead Sciences were worth $505,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in GILD. Sigma Planning Corp raised its position in shares of Gilead Sciences by 1.7% in the first quarter. Sigma Planning Corp now owns 24,591 shares of the biopharmaceutical company’s stock worth $2,259,000 after buying an additional 404 shares in the last quarter. Private Trust Co. NA raised its position in shares of Gilead Sciences by 0.6% in the first quarter. Private Trust Co. NA now owns 25,010 shares of the biopharmaceutical company’s stock worth $2,297,000 after buying an additional 147 shares in the last quarter. Rhenman & Partners Asset Management AB raised its position in shares of Gilead Sciences by 45.2% in the first quarter. Rhenman & Partners Asset Management AB now owns 180,000 shares of the biopharmaceutical company’s stock worth $16,535,000 after buying an additional 56,000 shares in the last quarter. V Wealth Management LLC bought a new position in shares of Gilead Sciences during the first quarter worth approximately $2,443,000. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Gilead Sciences during the first quarter worth approximately $1,038,000. 77.94% of the stock is owned by institutional investors and hedge funds.
Gilead Sciences Inc. (NASDAQ:GILD) traded down 1.22% on Thursday, reaching $76.62. 1,667,468 shares of the company were exchanged. The company’s 50-day moving average price is $79.23 and its 200-day moving average price is $85.24. Gilead Sciences Inc. has a 12-month low of $76.58 and a 12-month high of $111.11. The stock has a market capitalization of $101.11 billion, a P/E ratio of 6.72 and a beta of 1.10.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.06. The company earned $7.78 billion during the quarter, compared to the consensus estimate of $7.80 billion. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.15 earnings per share. Equities research analysts anticipate that Gilead Sciences Inc. will post $11.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were given a dividend of $0.47 per share. The ex-dividend date was Wednesday, September 14th. This represents a $1.88 annualized dividend and a yield of 2.42%. Gilead Sciences’s payout ratio is currently 16.56%.
A number of research analysts have recently commented on GILD shares. Maxim Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, June 8th. Leerink Swann reaffirmed a “buy” rating and set a $120.00 price objective (down previously from $123.00) on shares of Gilead Sciences in a research report on Thursday, June 9th. Zacks Investment Research lowered shares of Gilead Sciences from a “hold” rating to a “sell” rating in a research report on Monday, June 13th. Jefferies Group reissued a “hold” rating and issued a $96.00 price target on shares of Gilead Sciences in a research report on Sunday, June 12th. Finally, Morgan Stanley reissued a “hold” rating and issued a $103.00 price target on shares of Gilead Sciences in a research report on Wednesday, June 15th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $104.71.
In related news, insider John C. Martin sold 100,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $77.63, for a total transaction of $7,763,000.00. Following the completion of the transaction, the insider now owns 3,231,096 shares in the company, valued at $250,829,982.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kevin E. Lofton sold 3,500 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $81.97, for a total transaction of $286,895.00. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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