InterOcean Capital LLC lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,952 shares of the biopharmaceutical company’s stock after selling 500 shares during the quarter. InterOcean Capital LLC’s holdings in Gilead Sciences were worth $594,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. TRUE Private Wealth Advisors purchased a new position in shares of Gilead Sciences during the 4th quarter valued at $25,000. Pin Oak Investment Advisors Inc. purchased a new stake in Gilead Sciences in the 4th quarter worth about $26,000. Baldwin Brothers Inc. MA raised its stake in Gilead Sciences by 63.3% in the 1st quarter. Baldwin Brothers Inc. MA now owns 351 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 136 shares during the period. IndexIQ Advisors LLC purchased a new stake in Gilead Sciences during the fourth quarter valued at about $28,000. Finally, TFO TDC LLC bought a new position in Gilead Sciences during the fourth quarter worth about $29,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on GILD. Bank of America upped their price target on shares of Gilead Sciences from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Wolfe Research initiated coverage on shares of Gilead Sciences in a report on Tuesday, March 31st. They set a “market perform” rating and a $65.00 target price on the stock. Piper Sandler reaffirmed a “buy” rating and issued a $90.00 price target on shares of Gilead Sciences in a report on Thursday. SunTrust Banks cut Gilead Sciences from a “hold” rating to a “sell” rating and set a $70.00 price target for the company. in a research report on Friday, May 1st. Finally, Credit Suisse Group reissued a “sell” rating and set a $60.00 price objective on shares of Gilead Sciences in a report on Friday, April 17th. Seven analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $78.15.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.11. Gilead Sciences had a net margin of 21.84% and a return on equity of 35.44%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the business posted $1.67 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post 6.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, June 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 3.71%. The ex-dividend date is Thursday, June 11th. Gilead Sciences’s dividend payout ratio is presently 44.30%.
In other Gilead Sciences news, Director John Francis Cogan sold 2,413 shares of Gilead Sciences stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $77.97, for a total value of $188,141.61. Following the transaction, the director now directly owns 57,273 shares of the company’s stock, valued at approximately $4,465,575.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brett A. Pletcher sold 10,441 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $70.88, for a total value of $740,058.08. Following the completion of the sale, the executive vice president now owns 25,085 shares of the company’s stock, valued at approximately $1,778,024.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,585 shares of company stock valued at $4,671,283. Company insiders own 0.13% of the company’s stock.
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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