E&G Advisors LP cut its position in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 13.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,141 shares of the biopharmaceutical company’s stock after selling 4,652 shares during the period. Gilead Sciences makes up 1.5% of E&G Advisors LP’s portfolio, making the stock its 13th largest position. E&G Advisors LP’s holdings in Gilead Sciences were worth $2,431,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in Gilead Sciences during the second quarter worth approximately $427,750,000. Investec Asset Management LTD acquired a new position in Gilead Sciences during the first quarter worth approximately $280,342,000. NN Investment Partners Holdings N.V. acquired a new position in Gilead Sciences during the first quarter worth approximately $180,268,000. Temasek Holdings Private Ltd increased its position in 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. Finally, Old Mutual Global Investors UK Ltd. increased its position in Gilead Sciences by 256.3% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,156,623 shares of the biopharmaceutical company’s stock worth $96,485,000 after buying an additional 832,028 shares during the last quarter. 77.94% of the stock is owned by hedge funds and other institutional investors.
Gilead Sciences Inc. (NASDAQ:GILD) traded up 1.62% during trading on Friday, hitting $79.12. 11,031,540 shares of the company’s stock traded hands. The company’s 50 day moving average price is $79.40 and its 200 day moving average price is $85.53. Gilead Sciences Inc. has a 52-week low of $76.67 and a 52-week high of $111.11. The company has a market cap of $104.41 billion, a PE ratio of 6.94 and a beta of 1.06.
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, topping analysts’ consensus estimates of $3.02 by $0.06. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The company had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $7.80 billion. During the same period last year, the business earned $3.15 EPS. Gilead Sciences’s quarterly revenue was down 5.7% compared to the same quarter last year. Analysts expect that Gilead Sciences Inc. will post $11.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is currently 16.56%.
A number of equities analysts have recently commented on the stock. Leerink Swann reaffirmed an “outperform” rating and set a $112.00 price objective on shares of Gilead Sciences in a report on Friday. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a report on Tuesday, September 27th. Zacks Investment Research raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Bank of America Corp. reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Gilead Sciences in a report on Sunday, September 25th. Finally, Gabelli reaffirmed a “buy” rating on shares of Gilead Sciences in a report on Friday, September 23rd. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $105.00.
In other Gilead Sciences news, insider John C. Martin sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $77.48, for a total transaction of $7,748,000.00. Following the transaction, the insider now directly owns 3,287,810 shares in the company, valued at approximately $254,739,518.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul Rutherford Carter sold 2,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $79.81, for a total value of $159,620.00. Following the transaction, the executive vice president now owns 64,122 shares in the company, valued at $5,117,576.82. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate 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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