Grandfield & Dodd LLC Takes Position in Gilead Sciences, Inc. $GILD

Grandfield & Dodd LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 154,287 shares of the biopharmaceutical company’s stock, valued at approximately $19,493,000.

A number of other hedge funds have also recently modified their holdings of GILD. BlackRock Inc. bought a new position in Gilead Sciences during the 2nd quarter valued at approximately $15,393,785,000. Vanguard Group Inc. lifted its holdings in Gilead Sciences by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company’s stock worth $14,863,487,000 after buying an additional 2,113,692 shares during the period. State Street Corp lifted its holdings in Gilead Sciences by 1.9% in the fourth quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company’s stock worth $7,393,921,000 after buying an additional 1,151,213 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Gilead Sciences by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company’s stock valued at $3,399,734,000 after acquiring an additional 1,195,269 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Gilead Sciences by 15.2% during the 4th quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock valued at $2,837,948,000 after acquiring an additional 3,046,688 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $130.31, for a total value of $1,954,650.00. Following the transaction, the chief executive officer directly owned 592,133 shares of the company’s stock, valued at approximately $77,160,851.23. This trade represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $125.40, for a total value of $376,200.00. Following the sale, the chief financial officer owned 171,646 shares of the company’s stock, valued at approximately $21,524,408.40. This represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 51,000 shares of company stock worth $6,568,860. 0.30% of the stock is owned by insiders.

Gilead Sciences Price Performance

GILD opened at $138.92 on Tuesday. The firm has a market cap of $172.25 billion, a PE ratio of -52.03 and a beta of 0.32. The stock has a 50-day moving average price of $130.33 and a 200-day moving average price of $136.43. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year high of $157.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. The firm had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.01 earnings per share. Sell-side analysts predict that Gilead Sciences, Inc. will post -0.53 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 2.4%. Gilead Sciences’s payout ratio is presently -122.85%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GILD. Weiss Ratings lowered Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Leerink Partners cut Gilead Sciences from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $146.00 to $127.00 in a research note on Tuesday, July 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. HSBC upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and boosted their target price for the company from $133.00 to $155.00 in a report on Monday, July 6th. Finally, Morgan Stanley dropped their price objective on shares of Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Twenty-four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $158.04.

Gilead Sciences Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.