Wealthfront Inc. boosted its holdings in Gilead Sciences (NASDAQ:GILD) by 27.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 27,453 shares of the biopharmaceutical company’s stock after buying an additional 5,974 shares during the period. Wealthfront Inc.’s holdings in Gilead Sciences were worth $2,070,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Columbia Asset Management grew its position in shares of Gilead Sciences by 25.5% during the first quarter. Columbia Asset Management now owns 7,261 shares of the biopharmaceutical company’s stock valued at $547,000 after purchasing an additional 1,475 shares in the last quarter. Grimes & Company Inc. grew its position in shares of Gilead Sciences by 360.8% during the first quarter. Grimes & Company Inc. now owns 15,307 shares of the biopharmaceutical company’s stock valued at $1,154,000 after purchasing an additional 11,985 shares in the last quarter. Noesis Capital Mangement Corp grew its position in shares of Gilead Sciences by 2.5% during the first quarter. Noesis Capital Mangement Corp now owns 102,847 shares of the biopharmaceutical company’s stock valued at $7,754,000 after purchasing an additional 2,528 shares in the last quarter. Goodman Financial Corp purchased a new position in shares of Gilead Sciences during the first quarter valued at about $5,977,000. Finally, State of Wisconsin Investment Board grew its position in shares of Gilead Sciences by 2.9% during the first quarter. State of Wisconsin Investment Board now owns 2,008,331 shares of the biopharmaceutical company’s stock valued at $151,408,000 after purchasing an additional 56,413 shares in the last quarter. Institutional investors and hedge funds own 78.16% of the company’s stock.
Shares of Gilead Sciences opened at $67.55 on Thursday, according to MarketBeat. The company has a quick ratio of 2.75, a current ratio of 2.84 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $87.10 billion, a price-to-earnings ratio of 7.89, a PEG ratio of -5.82 and a beta of 1.19. Gilead Sciences has a 1 year low of $67.01 and a 1 year high of $67.62.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, May 1st. The biopharmaceutical company reported $1.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.19). The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.40 billion. Gilead Sciences had a return on equity of 45.49% and a net margin of 14.03%. The firm’s revenue for the quarter was down 21.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.23 EPS. sell-side analysts predict that Gilead Sciences will post 5.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Friday, June 15th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, June 14th. Gilead Sciences’s payout ratio is currently 26.64%.
In other Gilead Sciences news, EVP Gregg H. Alton sold 14,435 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $81.54, for a total value of $1,177,029.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robin L. Washington sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $80.31, for a total transaction of $401,550.00. Following the completion of the sale, the chief financial officer now directly owns 23,749 shares of the company’s stock, valued at approximately $1,907,282.19. The disclosure for this sale can be found here. In the last three months, insiders sold 241,102 shares of company stock valued at $18,237,884. 1.30% of the stock is owned by insiders.
GILD has been the subject of a number of research analyst reports. Jefferies Group upgraded Gilead Sciences from a “hold” rating to a “buy” rating and raised their price objective for the company from $81.19 to $93.00 in a research report on Friday, January 26th. Mizuho set a $95.00 price objective on Gilead Sciences and gave the company a “buy” rating in a research report on Monday, February 5th. Citigroup upgraded Gilead Sciences from a “neutral” rating to a “buy” rating and cut their price objective for the company from $88.80 to $76.00 in a research report on Tuesday, January 30th. Maxim Group set a $94.00 price objective on Gilead Sciences and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Vetr lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $90.00 price objective for the company. in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Gilead Sciences currently has a consensus rating of “Buy” and an average price target of $88.14.
About Gilead Sciences
Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics 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, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
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