Pacific Heights Asset Management LLC decreased its position in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 108,000 shares of the biopharmaceutical company’s stock after selling 2,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Gilead Sciences were worth $9,009,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of GILD. Temasek Holdings Private Ltd raised its stake 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 in the last quarter. Geode Capital Management LLC raised its stake in 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 in the last quarter. Bank of Montreal Can purchased a new stake in Gilead Sciences during the second quarter worth approximately $427,750,000. Canada Pension Plan Investment Board raised its stake in 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 in the last quarter. Finally, Prudential Financial Inc. raised its stake in Gilead Sciences by 12.0% in the first quarter. Prudential Financial Inc. now owns 3,816,408 shares of the biopharmaceutical company’s stock worth $350,575,000 after buying an additional 410,120 shares in the last quarter. 78.00% of the stock is owned by institutional investors.
Shares of Gilead Sciences Inc. (NASDAQ:GILD) traded down 0.15% on Monday, hitting $72.64. The company’s stock had a trading volume of 8,181,411 shares. The firm has a market cap of $95.86 billion, a price-to-earnings ratio of 6.38 and a beta of 1.10. Gilead Sciences Inc. has a 52 week low of $72.21 and a 52 week high of $111.11. The stock’s 50-day moving average price is $77.72 and its 200-day moving average price is $84.20.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data 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 quarter in the prior year, the business posted $3.15 EPS. The business’s revenue was down 5.7% compared to the same quarter last year. Equities analysts expect that Gilead Sciences Inc. will post $11.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is currently 16.56%.
GILD has been the subject of a number of analyst reports. Credit Suisse Group AG reduced their price objective on shares of Gilead Sciences from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, September 14th. Jefferies Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 25th. Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of Gilead Sciences in a research note on Tuesday, August 16th. S&P Equity Research reaffirmed a “strong-buy” rating on shares of Gilead Sciences in a research note on Wednesday, July 27th. Finally, Maxim Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Sunday, July 10th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Gilead Sciences has a consensus rating of “Buy” and a consensus target price of $103.60.
In related news, EVP Paul Rutherford Carter sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $79.81, for a total transaction of $159,620.00. Following the transaction, the executive vice president now directly owns 64,122 shares of the company’s stock, valued at approximately $5,117,576.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin E. Lofton sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $81.97, for a total value of $286,895.00. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
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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