Needham Investment Management LLC decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 156,000 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the quarter. Gilead Sciences comprises approximately 3.1% of Needham Investment Management LLC’s investment portfolio, making the stock its 9th largest position. Needham Investment Management LLC’s holdings in Gilead Sciences were worth $11,052,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in GILD. Tompkins Financial Corp grew its position in Gilead Sciences by 4.4% in the 2nd quarter. Tompkins Financial Corp now owns 15,479 shares of the biopharmaceutical company’s stock valued at $1,096,000 after purchasing an additional 651 shares during the period. Benedict Financial Advisors Inc. grew its position in Gilead Sciences by 2.7% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 25,473 shares of the biopharmaceutical company’s stock valued at $1,804,000 after purchasing an additional 673 shares during the period. Resource Management LLC grew its position in Gilead Sciences by 6.7% in the 2nd quarter. Resource Management LLC now owns 10,688 shares of the biopharmaceutical company’s stock valued at $757,000 after purchasing an additional 674 shares during the period. Jolley Asset Management LLC grew its position in Gilead Sciences by 1.3% in the 2nd quarter. Jolley Asset Management LLC now owns 54,746 shares of the biopharmaceutical company’s stock valued at $3,878,000 after purchasing an additional 678 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its position in Gilead Sciences by 0.4% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 174,000 shares of the biopharmaceutical company’s stock valued at $12,326,000 after purchasing an additional 710 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.
Several research firms recently issued reports on GILD. Morgan Stanley lifted their price target on shares of Gilead Sciences from $81.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, July 26th. Raymond James began coverage on shares of Gilead Sciences in a research report on Thursday, June 28th. They issued a “strong-buy” rating and a $93.00 price target for the company. BidaskClub raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Zacks Investment Research raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Wednesday, July 18th. Finally, Piper Jaffray Companies began coverage on shares of Gilead Sciences in a report on Wednesday, May 30th. They set a “buy” rating and a $85.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Gilead Sciences presently has an average rating of “Buy” and an average target price of $88.30.
In other news, Director John C. Martin sold 50,000 shares of Gilead Sciences stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $77.85, for a total transaction of $3,892,500.00. Following the sale, the director now directly owns 3,067,762 shares in the company, valued at approximately $238,825,271.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
GILD opened at $74.53 on Thursday. The company has a current ratio of 3.00, a quick ratio of 2.92 and a debt-to-equity ratio of 1.23. The firm has a market cap of $98.17 billion, a price-to-earnings ratio of 8.71, a PEG ratio of -5.77 and a beta of 1.02. Gilead Sciences, Inc. has a 1 year low of $64.27 and a 1 year high of $89.54.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, July 25th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.35. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Gilead Sciences had a return on equity of 41.57% and a net margin of 9.52%. The business’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.56 EPS. analysts expect that Gilead Sciences, Inc. will post 6.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Friday, September 14th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, September 13th. Gilead Sciences’s payout ratio is 26.64%.
Gilead Sciences Profile
Gilead Sciences, Inc, a biopharmaceutical company, 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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