Adell Harriman & Carpenter Inc. lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.2% in the second quarter, Holdings Channel reports. The institutional investor owned 8,292 shares of the biopharmaceutical company’s stock after selling 737 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Gilead Sciences were worth $587,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Wafra Investment Advisory Group Inc. NY lifted its position in Gilead Sciences by 4.5% during the 4th quarter. Wafra Investment Advisory Group Inc. NY now owns 116,211 shares of the biopharmaceutical company’s stock valued at $8,325,000 after acquiring an additional 4,960 shares during the period. Swedbank lifted its position in Gilead Sciences by 8.0% during the 4th quarter. Swedbank now owns 1,930,359 shares of the biopharmaceutical company’s stock valued at $138,291,000 after acquiring an additional 143,525 shares during the period. Advisor Group Inc. lifted its position in Gilead Sciences by 14.4% during the 4th quarter. Advisor Group Inc. now owns 166,051 shares of the biopharmaceutical company’s stock valued at $11,897,000 after acquiring an additional 20,924 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in Gilead Sciences in the fourth quarter worth about $2,529,000. Finally, Brandywine Global Investment Management LLC raised its holdings in Gilead Sciences by 54.5% in the fourth quarter. Brandywine Global Investment Management LLC now owns 1,878,235 shares of the biopharmaceutical company’s stock worth $134,557,000 after buying an additional 662,386 shares during the last quarter. 77.70% of the stock is owned by institutional investors.
Shares of GILD stock opened at $77.31 on Wednesday. Gilead Sciences, Inc. has a 52 week low of $64.27 and a 52 week high of $89.54. The company has a market capitalization of $99.47 billion, a PE ratio of 9.03, a P/E/G ratio of -5.85 and a beta of 1.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.00 and a quick ratio of 2.92.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Friday, September 14th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.28 annualized dividend and a yield of 2.95%. Gilead Sciences’s dividend payout ratio (DPR) is 26.64%.
Several research analysts have issued reports on GILD shares. Credit Suisse Group set a $80.00 target price on shares of Gilead Sciences and gave the stock a “hold” rating in a report on Tuesday, April 17th. Zacks Investment Research raised shares of Gilead Sciences from a “sell” rating to a “buy” rating and set a $85.00 target price for the company in a report on Thursday, April 19th. ValuEngine cut shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Leerink Swann set a $72.00 target price on shares of Gilead Sciences and gave the stock a “market perform” rating in a report on Wednesday, May 2nd. Finally, Barclays decreased their target price on shares of Gilead Sciences from $95.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. Twelve research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $88.00.
In related news, Director John C. Martin sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $68.13, for a total transaction of $3,406,500.00. Following the completion of the sale, the director now directly owns 3,067,762 shares in the company, valued at $209,006,625.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 150,000 shares of company stock valued at $10,839,500 over the last 90 days. 1.16% of the stock is currently owned by company insiders.
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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