First Commonwealth Financial Corp PA cut its position in Gilead Sciences Inc. (NASDAQ:GILD) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,523 shares of the biopharmaceutical company’s stock after selling 197 shares during the period. Gilead Sciences accounts for about 2.1% of First Commonwealth Financial Corp PA’s holdings, making the stock its 7th largest position. First Commonwealth Financial Corp PA’s holdings in Gilead Sciences were worth $1,628,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. BLB&B Advisors LLC bought a new position in Gilead Sciences during the first quarter valued at about $268,000. Nicolet Bankshares Inc. raised its position in Gilead Sciences by 2.5% in the first quarter. Nicolet Bankshares Inc. now owns 4,760 shares of the biopharmaceutical company’s stock valued at $437,000 after buying an additional 117 shares during the last quarter. BTR Capital Management Inc. raised its position in Gilead Sciences by 5.3% in the first quarter. BTR Capital Management Inc. now owns 82,802 shares of the biopharmaceutical company’s stock valued at $7,606,000 after buying an additional 4,165 shares during the last quarter. Iberiabank Corp raised its position in Gilead Sciences by 32.3% in the first quarter. Iberiabank Corp now owns 6,421 shares of the biopharmaceutical company’s stock valued at $590,000 after buying an additional 1,566 shares during the last quarter. Finally, Mission Wealth Management LLC raised its position in Gilead Sciences by 32.6% in the first quarter. Mission Wealth Management LLC now owns 4,808 shares of the biopharmaceutical company’s stock valued at $442,000 after buying an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.
Gilead Sciences Inc. (NASDAQ:GILD) traded up 1.98% during trading on Friday, reaching $79.40. The company’s stock had a trading volume of 4,459,044 shares. The company has a market cap of $104.78 billion, a PE ratio of 6.97 and a beta of 1.06. The stock has a 50-day moving average price of $79.41 and a 200 day moving average price of $85.61. Gilead Sciences Inc. has a 52-week low of $76.67 and a 52-week high of $111.11.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.06. The firm had revenue of $7.78 billion for the quarter, compared to analyst estimates 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 was down 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.15 earnings per share. On average, analysts expect that Gilead Sciences Inc. will post $11.76 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were paid a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.88 annualized dividend and a dividend yield of 2.41%. Gilead Sciences’s payout ratio is presently 16.56%.
Several equities analysts have recently issued reports on GILD shares. Credit Suisse Group AG decreased their target price on Gilead Sciences from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, September 14th. Morgan Stanley restated a “hold” rating and set a $103.00 target price on shares of Gilead Sciences in a research report on Wednesday, June 15th. Robert W. Baird restated an “outperform” rating and set a $135.00 target price on shares of Gilead Sciences in a research report on Monday, June 6th. Jefferies Group reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 25th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating on shares of Gilead Sciences in a report on Tuesday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $104.34.
In related news, CEO John F. Milligan sold 112,000 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $84.33, for a total transaction of $9,444,960.00. Following the completion of the transaction, the chief executive officer now directly owns 1,170,963 shares in the company, valued at $98,747,309.79. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $81.84, for a total value of $409,200.00. Following the transaction, the executive vice president now 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 company insiders.
About Gilead Sciences
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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