Grandfield & Dodd LLC Trims Position in Gilead Sciences, Inc. (GILD)
Grandfield & Dodd LLC lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 151,430 shares of the biopharmaceutical company’s stock after selling 605 shares during the period. Grandfield & Dodd LLC’s holdings in Gilead Sciences were worth $9,472,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GILD. Bank of New York Mellon Corp lifted its stake in shares of Gilead Sciences by 199,789.8% in the third quarter. Bank of New York Mellon Corp now owns 31,350,714 shares of the biopharmaceutical company’s stock valued at $2,420,587,000 after buying an additional 31,335,030 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Gilead Sciences by 5,733.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,988,297 shares of the biopharmaceutical company’s stock valued at $463,000 after buying an additional 28,491,386 shares during the period. Capital Research Global Investors lifted its stake in shares of Gilead Sciences by 22.5% in the third quarter. Capital Research Global Investors now owns 69,854,968 shares of the biopharmaceutical company’s stock valued at $5,393,502,000 after buying an additional 12,818,301 shares during the period. BlackRock Inc. lifted its stake in shares of Gilead Sciences by 2.2% in the fourth quarter. BlackRock Inc. now owns 104,186,077 shares of the biopharmaceutical company’s stock valued at $6,516,839,000 after buying an additional 2,195,948 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Gilead Sciences by 21.1% in the third quarter. TIAA CREF Investment Management LLC now owns 10,241,394 shares of the biopharmaceutical company’s stock valued at $790,738,000 after buying an additional 1,786,881 shares during the period. Institutional investors and hedge funds own 78.23% of the company’s stock.
In other Gilead Sciences news, Director Gayle E. Wilson sold 19,068 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $67.08, for a total transaction of $1,279,081.44. Following the completion of the transaction, the director now owns 143,567 shares in the company, valued at $9,630,474.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.16% of the stock is owned by company insiders.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, February 4th. The biopharmaceutical company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.26). The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.52 billion. Gilead Sciences had a return on equity of 37.03% and a net margin of 24.65%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 EPS. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 6.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.63 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.52 dividend on an annualized basis and a yield of 3.84%. Gilead Sciences’s dividend payout ratio (DPR) is currently 37.07%.
Several research firms recently weighed in on GILD. Wells Fargo & Co cut shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $95.00 to $68.00 in a research note on Monday, February 11th. Guggenheim began coverage on shares of Gilead Sciences in a research note on Monday, December 17th. They issued a “buy” rating and a $86.00 target price for the company. Raymond James set a $90.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Tuesday, February 5th. BidaskClub upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Tuesday, December 4th. Finally, Citigroup cut shares of Gilead Sciences from a “buy” rating to a “neutral” rating and reduced their target price for the company from $100.00 to $75.00 in a research note on Tuesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $82.29.
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About Gilead Sciences
Gilead Sciences, Inc discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
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