Cubic Asset Management LLC grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 20.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,427 shares of the biopharmaceutical company’s stock after purchasing an additional 6,455 shares during the quarter. Cubic Asset Management LLC’s holdings in Gilead Sciences were worth $2,890,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GILD. Reilly Financial Advisors LLC raised its position in shares of Gilead Sciences by 98.3% in the third quarter. Reilly Financial Advisors LLC now owns 1,420 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 704 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Gilead Sciences in the second quarter valued at about $132,000. Brand Asset Management Group Inc. bought a new position in shares of Gilead Sciences in the second quarter valued at about $139,000. TRUE Private Wealth Advisors bought a new position in shares of Gilead Sciences in the third quarter valued at about $174,000. Finally, Wealthsource Partners LLC bought a new position in shares of Gilead Sciences in the second quarter valued at about $206,000. 78.22% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on GILD shares. Piper Jaffray Companies set a $85.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Wednesday, September 12th. Mizuho restated a “buy” rating and issued a $94.00 price target on shares of Gilead Sciences in a research note on Friday, August 10th. Zacks Investment Research upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Wednesday, July 18th. BidaskClub upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, Morgan Stanley upped their price target on shares of Gilead Sciences from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, July 26th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $87.84.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.21. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.44 billion. Gilead Sciences had a net margin of 7.12% and a return on equity of 40.28%. During the same period in the prior year, the company posted $2.27 earnings per share. On average, analysts predict that Gilead Sciences, Inc. will post 6.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.28 dividend on an annualized basis and a yield of 3.27%. Gilead Sciences’s payout ratio is 26.64%.
In other Gilead Sciences news, Director John C. Martin sold 50,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $74.16, for a total transaction of $3,708,000.00. Following the sale, the director now directly owns 3,067,762 shares in the company, valued at $227,505,229.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 150,000 shares of company stock worth $11,502,500 over the last quarter. Corporate insiders own 1.30% of the company’s stock.
Gilead Sciences Profile
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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