Conning Inc. lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 34,636 shares of the biopharmaceutical company’s stock after selling 490 shares during the period. Conning Inc.’s holdings in Gilead Sciences were worth $2,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van Hulzen Asset Management LLC raised its position in Gilead Sciences by 9.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 100 shares during the period. Gemmer Asset Management LLC raised its position in Gilead Sciences by 15.5% in the third quarter. Gemmer Asset Management LLC now owns 1,301 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 175 shares during the period. Joel Isaacson & Co. LLC raised its position in Gilead Sciences by 20.8% in the second quarter. Joel Isaacson & Co. LLC now owns 1,310 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 226 shares during the period. Roble Belko & Company Inc raised its position in Gilead Sciences by 340.5% in the second quarter. Roble Belko & Company Inc now owns 1,339 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 1,035 shares during the period. Finally, Pinkerton Retirement Specialists LLC raised its position in Gilead Sciences by 9,305.9% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,599 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 1,582 shares during the period. 73.43% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) opened at 73.07 on Friday. Gilead Sciences, Inc. has a 12-month low of $70.83 and a 12-month high of $103.10. The company has a 50-day moving average price of $73.96 and a 200-day moving average price of $77.97. The company has a market cap of $96.27 billion, a P/E ratio of 6.76 and a beta of 1.20.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, November 1st. The biopharmaceutical company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.87 by $0.12. Gilead Sciences had a net margin of 47.74% and a return on equity of 100.57%. The firm earned $7.40 billion during the quarter, compared to analysts’ expectations of $7.47 billion. During the same quarter in the previous year, the company posted $3.22 EPS. Gilead Sciences’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, analysts predict that Gilead Sciences, Inc. will post $11.47 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Thursday, December 15th were paid a $0.47 dividend. The ex-dividend date was Tuesday, December 13th. This represents a $1.88 annualized dividend and a yield of 2.57%. Gilead Sciences’s payout ratio is 17.44%.

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GILD has been the subject of a number of research reports. Jefferies Group restated a “buy” rating and set a $91.00 price objective on shares of Gilead Sciences in a research report on Wednesday, January 4th. RBC Capital Markets restated a “buy” rating and set a $90.00 price objective on shares of Gilead Sciences in a research report on Tuesday, January 3rd. Berenberg Bank initiated coverage on Gilead Sciences in a research report on Thursday, September 22nd. They set a “buy” rating for the company. Piper Jaffray Companies restated an “overweight” rating on shares of Gilead Sciences in a research report on Saturday, October 22nd. Finally, Stifel Nicolaus initiated coverage on Gilead Sciences in a research report on Monday, November 14th. They set a “buy” rating and a $100.00 price objective for the company. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Gilead Sciences presently has a consensus rating of “Buy” and an average price target of $96.41.

In related news, insider John C. Martin sold 73,337 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $73.59, for a total value of $5,396,869.83. Following the transaction, the insider now owns 3,204,433 shares in the company, valued at $235,814,224.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John W. Madigan sold 105,000 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $74.86, for a total value of $7,860,300.00. Following the completion of the transaction, the director now owns 121,761 shares in the company, valued at approximately $9,115,028.46. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

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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