Perigon Wealth Management LLC Buys Shares of 39,409 Gilead Sciences, Inc. $GILD

Perigon Wealth Management LLC bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 39,409 shares of the biopharmaceutical company’s stock, valued at approximately $4,979,000.

A number of other large investors have also recently bought and sold shares of GILD. Vanguard Group Inc. raised its position in shares of Gilead Sciences by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company’s stock valued at $14,863,487,000 after purchasing an additional 2,113,692 shares during the period. State Street Corp raised its holdings in Gilead Sciences by 1.9% in the 4th quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company’s stock worth $7,393,921,000 after acquiring an additional 1,151,213 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Gilead Sciences by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company’s stock worth $3,399,734,000 after acquiring an additional 1,195,269 shares during the last quarter. Bank of America Corp DE grew its position in shares of Gilead Sciences by 15.2% in the fourth quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock valued at $2,837,948,000 after purchasing an additional 3,046,688 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at about $2,617,152,000. 83.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GILD shares. Rothschild & Co Redburn reduced their price objective on Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price target on shares of Gilead Sciences in a report on Wednesday, August 5th. Needham & Company LLC restated a “buy” rating and set a $170.00 price objective on shares of Gilead Sciences in a report on Wednesday, August 5th. Royal Bank Of Canada increased their target price on shares of Gilead Sciences from $120.00 to $123.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Finally, HSBC upgraded Gilead Sciences from a “hold” rating to a “buy” rating and boosted their price target for the company from $133.00 to $155.00 in a research note on Monday, July 6th. Twenty-four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $158.04.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $138.92 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The business has a 50 day simple moving average of $130.33 and a 200 day simple moving average of $136.43. Gilead Sciences, Inc. has a one year low of $108.46 and a one year high of $157.29. The company has a market capitalization of $172.25 billion, a PE ratio of -52.03 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. The business had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $2.01 EPS. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post -0.53 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio is presently -122.85%.

Insider Activity

In related news, CEO Daniel Patrick O’day sold 15,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the transaction, the chief executive officer owned 592,133 shares in the company, valued at $77,160,851.23. This represents a 2.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $125.40, for a total value of $376,200.00. Following the completion of the transaction, the chief financial officer owned 171,646 shares in the company, valued at $21,524,408.40. The trade was a 1.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 51,000 shares of company stock worth $6,568,860. 0.30% of the stock is owned by corporate insiders.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.