Rock Point Advisors LLC cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 132,071 shares of the biopharmaceutical company’s stock after selling 7,207 shares during the period. Gilead Sciences comprises approximately 4.2% of Rock Point Advisors LLC’s holdings, making the stock its 7th largest position. Rock Point Advisors LLC’s holdings in Gilead Sciences were worth $8,261,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Gradient Investments LLC increased its position in shares of Gilead Sciences by 16.1% during the fourth quarter. Gradient Investments LLC now owns 1,076 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 149 shares during the period. Waldron Private Wealth LLC boosted its stake in shares of Gilead Sciences by 3.8% during the third quarter. Waldron Private Wealth LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $337,000 after purchasing an additional 162 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Gilead Sciences by 6.1% during the third quarter. Cornerstone Advisors Inc. now owns 3,120 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 178 shares in the last quarter. Boenning & Scattergood Inc. boosted its stake in shares of Gilead Sciences by 0.9% during the fourth quarter. Boenning & Scattergood Inc. now owns 20,176 shares of the biopharmaceutical company’s stock valued at $1,262,000 after purchasing an additional 180 shares in the last quarter. Finally, NewSquare Capital LLC boosted its stake in shares of Gilead Sciences by 0.9% during the fourth quarter. NewSquare Capital LLC now owns 20,165 shares of the biopharmaceutical company’s stock valued at $1,261,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.
In other news, Director John C. Martin sold 50,000 shares of Gilead Sciences stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $71.20, for a total transaction of $3,560,000.00. Following the completion of the sale, the director now directly owns 2,877,762 shares in the company, valued at $204,896,654.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.16% of the company’s stock.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Monday, February 4th. The biopharmaceutical company reported $1.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.26). Gilead Sciences had a return on equity of 37.03% and a net margin of 24.65%. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts predict that Gilead Sciences, Inc. will post 6.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.63 per share. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Thursday, March 14th. Gilead Sciences’s payout ratio is presently 37.07%.
A number of research firms have recently issued reports on GILD. BidaskClub downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Thursday. Maxim Group set a $84.00 price objective on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Tuesday, February 5th. Raymond James set a $90.00 price objective on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Tuesday, February 5th. Wells Fargo & Co lowered their target price on shares of Gilead Sciences from $95.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, February 5th. Finally, Citigroup restated a “buy” rating and issued a $100.00 target price on shares of Gilead Sciences in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Gilead Sciences presently has a consensus rating of “Buy” and a consensus price target of $86.85.
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About Gilead Sciences
Gilead Sciences, Inc 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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