Westwood Holdings Group Inc. acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,610 shares of the biopharmaceutical company’s stock, valued at approximately $447,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new position in Gilead Sciences during the 2nd quarter worth about $26,000. Trustcore Financial Services LLC acquired a new position in Gilead Sciences during the 1st quarter worth about $34,000. Weaver Consulting Group acquired a new position in Gilead Sciences during the 1st quarter worth about $34,000. Legacy Advisors LLC acquired a new position in Gilead Sciences during the 2nd quarter worth about $37,000. Finally, Evolution Wealth Advisors LLC acquired a new position in Gilead Sciences during the 2nd quarter worth about $46,000. 79.57% of the stock is currently owned by institutional investors.
GILD has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Monday, July 15th. Raymond James set a $85.00 price target on Gilead Sciences and gave the stock a “buy” rating in a report on Friday, August 23rd. ValuEngine downgraded Gilead Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Maxim Group set a $84.00 price target on Gilead Sciences and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group set a $95.00 price target on Gilead Sciences and gave the stock a “buy” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $82.24.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. Gilead Sciences had a return on equity of 37.12% and a net margin of 26.64%. The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the business posted $1.91 EPS. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 6.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.52 dividend on an annualized basis and a yield of 3.91%. Gilead Sciences’s dividend payout ratio is presently 40.98%.
In related news, EVP Brett A. Pletcher sold 608 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $64.35, for a total transaction of $39,124.80. Following the transaction, the executive vice president now owns 27,198 shares in the company, valued at approximately $1,750,191.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Olsen Per Wold sold 4,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $63.91, for a total value of $313,670.28. Following the transaction, the director now owns 102,762 shares in the company, valued at approximately $6,567,519.42. The disclosure for this sale can be found here. Insiders have sold a total of 12,716 shares of company stock worth $821,299 in the last 90 days. 0.20% of the stock is currently owned by company insiders.
Gilead Sciences Company 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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