Coldstream Capital Management Inc. cut its stake in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 6,229 shares of the biopharmaceutical company’s stock after selling 285 shares during the period. Coldstream Capital Management Inc.’s holdings in Gilead Sciences were worth $520,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Gilead Sciences by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 26,617,229 shares of the biopharmaceutical company’s stock worth $2,220,410,000 after buying an additional 1,023,299 shares during the last quarter. Temasek Holdings Private Ltd boosted its stake in shares of Gilead Sciences by 8.1% in the first quarter. Temasek Holdings Private Ltd now owns 13,830,516 shares of the biopharmaceutical company’s stock worth $1,270,471,000 after buying an additional 1,035,592 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Gilead Sciences by 1.3% in the first quarter. Geode Capital Management LLC now owns 12,410,846 shares of the biopharmaceutical company’s stock worth $1,137,969,000 after buying an additional 161,505 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Gilead Sciences during the second quarter worth about $427,750,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Gilead Sciences by 15.6% in the first quarter. Canada Pension Plan Investment Board now owns 4,955,996 shares of the biopharmaceutical company’s stock worth $455,258,000 after buying an additional 669,800 shares during the last quarter. Institutional investors and hedge funds own 77.94% of the company’s stock.
Shares of Gilead Sciences Inc. (NASDAQ:GILD) traded down 0.38% during midday trading on Wednesday, reaching $78.95. The company had a trading volume of 3,025,476 shares. The company’s 50-day moving average is $79.45 and its 200-day moving average is $85.72. The firm has a market cap of $104.19 billion, a P/E ratio of 6.93 and a beta of 1.06. Gilead Sciences Inc. has a 52-week low of $76.67 and a 52-week high of $111.11.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.06. The company earned $7.78 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the firm earned $3.15 EPS. Equities research analysts expect that Gilead Sciences Inc. will post $11.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, September 16th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.88 annualized dividend and a dividend yield of 2.37%. Gilead Sciences’s dividend payout ratio (DPR) is currently 16.56%.
A number of analysts have recently issued reports on the company. Piper Jaffray Cos. set a $108.00 target price on Gilead Sciences and gave the stock a “buy” rating in a report on Sunday, August 21st. Jefferies Group reiterated a “hold” rating and set a $96.00 target price on shares of Gilead Sciences in a report on Wednesday, June 29th. RBC Capital Markets reiterated an “outperform” rating and set a $105.00 target price (down previously from $120.00) on shares of Gilead Sciences in a report on Tuesday, July 26th. Zacks Investment Research upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a report on Monday. Finally, Leerink Swann reissued a “buy” rating and set a $120.00 price target (down from $123.00) on shares of Gilead Sciences in a research report on Thursday, June 9th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Gilead Sciences has an average rating of “Buy” and a consensus price target of $104.34.
In related news, EVP Paul Rutherford Carter sold 2,000 shares of Gilead Sciences stock in a transaction on Friday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $166,240.00. Following the completion of the sale, the executive vice president now directly owns 63,122 shares of the company’s stock, valued at $5,246,700.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregg H. Alton sold 5,000 shares of Gilead Sciences stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $81.84, for a total value of $409,200.00. Following the sale, the executive vice president now directly owns 132,964 shares of the company’s stock, valued at $10,881,773.76. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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