Greatmark Investment Partners Inc. Increases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)
Greatmark Investment Partners Inc. lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 116,710 shares of the biopharmaceutical company’s stock after acquiring an additional 6,024 shares during the period. Gilead Sciences accounts for 2.4% of Greatmark Investment Partners Inc.’s portfolio, making the stock its 14th largest position. Greatmark Investment Partners Inc.’s holdings in Gilead Sciences were worth $7,885,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Parnassus Investments CA raised its holdings in Gilead Sciences by 21.2% in the first quarter. Parnassus Investments CA now owns 13,074,555 shares of the biopharmaceutical company’s stock valued at $849,976,000 after buying an additional 2,288,767 shares during the period. Sanders Capital LLC raised its holdings in Gilead Sciences by 2.1% in the second quarter. Sanders Capital LLC now owns 11,526,033 shares of the biopharmaceutical company’s stock valued at $842,146,000 after buying an additional 234,100 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Gilead Sciences by 3.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,213,760 shares of the biopharmaceutical company’s stock valued at $338,947,000 after buying an additional 167,292 shares during the period. Dimensional Fund Advisors LP raised its holdings in Gilead Sciences by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,129,197 shares of the biopharmaceutical company’s stock valued at $320,822,000 after buying an additional 51,905 shares during the period. Finally, LSV Asset Management raised its holdings in Gilead Sciences by 0.8% in the first quarter. LSV Asset Management now owns 4,686,501 shares of the biopharmaceutical company’s stock valued at $304,669,000 after buying an additional 37,464 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.
In other news, EVP Brett A. Pletcher sold 5,816 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $68.75, for a total transaction of $399,850.00. Following the completion of the sale, the executive vice president now owns 27,198 shares of the company’s stock, valued at $1,869,862.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brett A. Pletcher sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $65.07, for a total transaction of $468,504.00. Following the sale, the executive vice president now directly owns 34,398 shares of the company’s stock, valued at approximately $2,238,277.86. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.14. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the company earned $1.91 earnings per share. Gilead Sciences’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts expect that Gilead Sciences, Inc. will post 6.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, September 12th. Gilead Sciences’s payout ratio is currently 40.98%.
Several research analysts recently commented on GILD shares. Cantor Fitzgerald set a $88.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a report on Monday, July 15th. BidaskClub lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, June 5th. Royal Bank of Canada upgraded shares of Gilead Sciences from an “outperform” rating to a “top pick” rating and set a $91.00 price target on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. restated a “buy” rating and issued a $85.00 price target on shares of Gilead Sciences in a report on Wednesday, July 31st. Finally, Goldman Sachs Group lowered shares of Gilead Sciences from a “neutral” rating to a “sell” rating and cut their price target for the company from $70.00 to $60.00 in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $82.29.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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