Pinebridge Investments L.P. Purchases 78,782 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Pinebridge Investments L.P. lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 34.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 310,069 shares of the biopharmaceutical company’s stock after purchasing an additional 78,782 shares during the quarter. Pinebridge Investments L.P.’s holdings in Gilead Sciences were worth $20,948,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GILD. Advisors Preferred LLC purchased a new stake in shares of Gilead Sciences during the second quarter valued at $26,000. Trustcore Financial Services LLC purchased a new position in shares of Gilead Sciences during the 1st quarter worth approximately $34,000. Weaver Consulting Group purchased a new position in shares of Gilead Sciences during the 1st quarter worth approximately $34,000. Legacy Advisors LLC purchased a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $37,000. Finally, Evolution Wealth Advisors LLC purchased a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $46,000. 79.89% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:GILD traded up $0.14 during midday trading on Friday, hitting $66.50. 390,814 shares of the company were exchanged, compared to its average volume of 5,590,469. The company has a fifty day simple moving average of $64.51 and a 200 day simple moving average of $65.44. Gilead Sciences, Inc. has a fifty-two week low of $60.32 and a fifty-two week high of $79.61. The company has a current ratio of 3.76, a quick ratio of 3.67 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $84.95 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 3.18 and a beta of 1.10.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.14. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the business earned $1.91 EPS. Gilead Sciences’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 6.66 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.52 annualized dividend and a yield of 3.79%. Gilead Sciences’s dividend payout ratio is currently 40.98%.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Monday, July 15th. Oppenheimer set a $85.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Friday, July 12th. BidaskClub raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group set a $95.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Maxim Group set a $84.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Gilead Sciences has an average rating of “Buy” and a consensus target price of $82.24.

In other Gilead Sciences news, Director Olsen Per Wold sold 4,908 shares of Gilead Sciences stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $63.91, for a total value of $313,670.28. Following the transaction, the director now directly owns 102,762 shares in the company, valued at $6,567,519.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brett A. Pletcher sold 7,200 shares of Gilead Sciences stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $65.07, for a total transaction of $468,504.00. Following the completion of the transaction, the executive vice president now owns 34,398 shares in the company, valued at $2,238,277.86. The disclosure for this sale can be found here. Insiders have sold a total of 18,532 shares of company stock worth $1,221,149 over the last quarter. 0.20% of the stock is owned by company insiders.

Gilead Sciences Profile

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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