Riverhead Capital Management LLC decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 7.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,376 shares of the biopharmaceutical company’s stock after selling 8,586 shares during the quarter. Riverhead Capital Management LLC’s holdings in Gilead Sciences were worth $7,982,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of GILD. Bank of New York Mellon Corp raised its stake in Gilead Sciences by 199,789.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 31,350,714 shares of the biopharmaceutical company’s stock worth $2,420,587,000 after acquiring an additional 31,335,030 shares during the last quarter. Northern Trust Corp raised its stake in Gilead Sciences by 2.0% in the 2nd quarter. Northern Trust Corp now owns 16,823,192 shares of the biopharmaceutical company’s stock worth $1,191,754,000 after acquiring an additional 325,246 shares during the last quarter. Alliancebernstein L.P. raised its stake in Gilead Sciences by 2.3% in the 3rd quarter. Alliancebernstein L.P. now owns 10,591,252 shares of the biopharmaceutical company’s stock worth $817,751,000 after acquiring an additional 241,790 shares during the last quarter. Boston Partners raised its stake in Gilead Sciences by 3.1% in the 2nd quarter. Boston Partners now owns 8,290,507 shares of the biopharmaceutical company’s stock worth $587,300,000 after acquiring an additional 245,805 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its stake in Gilead Sciences by 2.4% in the 3rd quarter. OppenheimerFunds Inc. now owns 7,204,345 shares of the biopharmaceutical company’s stock worth $556,248,000 after acquiring an additional 165,958 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.
NASDAQ GILD opened at $69.55 on Wednesday. The stock has a market cap of $93.06 billion, a price-to-earnings ratio of 8.13, a P/E/G ratio of -2.75 and a beta of 1.01. Gilead Sciences, Inc. has a fifty-two week low of $64.27 and a fifty-two week high of $89.54. The company has a quick ratio of 3.37, a current ratio of 3.45 and a debt-to-equity ratio of 1.09.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.21. Gilead Sciences had a return on equity of 39.32% and a net margin of 7.12%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the business earned $2.27 EPS. Analysts forecast that Gilead Sciences, Inc. will post 6.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 3.28%. Gilead Sciences’s dividend payout ratio is presently 26.64%.
In related news, Director John C. Martin sold 50,000 shares of Gilead Sciences stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $78.04, for a total value of $3,902,000.00. Following the completion of the transaction, the director now owns 3,067,762 shares in the company, valued at approximately $239,408,146.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 150,000 shares of company stock valued at $10,939,500. 1.16% of the stock is owned by company insiders.
A number of brokerages recently issued reports on GILD. ValuEngine lowered Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. BidaskClub lowered Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. Zacks Investment Research lowered Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Cantor Fitzgerald lifted their price objective on Gilead Sciences from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, October 26th. Finally, Piper Jaffray Companies lowered Gilead Sciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $75.00 in a research note on Friday, October 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $88.63.
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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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