BlackRock Inc. Sells 918,595 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

BlackRock Inc. cut its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,804,538 shares of the biopharmaceutical company’s stock after selling 918,595 shares during the quarter. BlackRock Inc. owned approximately 9.87% of Gilead Sciences worth $8,525,183,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Gilead Sciences by 3.0% in the first quarter. Geode Capital Management LLC now owns 20,671,306 shares of the biopharmaceutical company’s stock worth $1,332,764,000 after purchasing an additional 592,386 shares in the last quarter. Parnassus Investments CA raised its holdings in Gilead Sciences by 88.5% in the second quarter. Parnassus Investments CA now owns 10,362,033 shares of the biopharmaceutical company’s stock worth $713,530,000 after purchasing an additional 4,864,272 shares in the last quarter. Morgan Stanley increased its holdings in shares of Gilead Sciences by 30.4% during the first quarter. Morgan Stanley now owns 9,287,506 shares of the biopharmaceutical company’s stock valued at $600,251,000 after acquiring an additional 2,163,164 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Gilead Sciences by 0.7% during the first quarter. UBS Asset Management Americas Inc. now owns 9,060,504 shares of the biopharmaceutical company’s stock valued at $585,580,000 after acquiring an additional 63,451 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Gilead Sciences by 81.6% during the first quarter. Nuveen Asset Management LLC now owns 8,718,855 shares of the biopharmaceutical company’s stock valued at $563,500,000 after acquiring an additional 3,918,666 shares in the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.

In related news, CAO Diane E. Wilfong sold 13,610 shares of the stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $72.50, for a total value of $986,725.00. Following the completion of the transaction, the chief accounting officer now directly owns 30,179 shares of the company’s stock, valued at approximately $2,187,977.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.12% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Gilead Sciences from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Friday, July 30th. SVB Leerink upped their price objective on shares of Gilead Sciences from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Royal Bank of Canada restated a “buy” rating and set a C$84.00 price objective on shares of Gilead Sciences in a report on Monday, August 23rd. Oppenheimer initiated coverage on Gilead Sciences in a research report on Monday, June 28th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Morgan Stanley reiterated a “buy” rating and issued a $83.00 target price on shares of Gilead Sciences in a research report on Friday, August 27th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Gilead Sciences has an average rating of “Buy” and a consensus target price of $105.67.

Shares of NASDAQ:GILD traded down $0.31 during midday trading on Monday, reaching $71.30. 290,538 shares of the company’s stock traded hands, compared to its average volume of 7,308,346. Gilead Sciences, Inc. has a 1 year low of $56.56 and a 1 year high of $73.34. The company has a market cap of $89.40 billion, a P/E ratio of 17.47, a PEG ratio of 0.63 and a beta of 0.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.19 and a current ratio of 1.36. The company has a fifty day simple moving average of $70.38 and a two-hundred day simple moving average of $67.78.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, July 29th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. Gilead Sciences had a return on equity of 55.94% and a net margin of 19.38%. The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter last year, the firm posted $1.11 EPS. As a group, research analysts forecast that Gilead Sciences, Inc. will post 7.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Wednesday, September 15th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.98%. The ex-dividend date is Tuesday, September 14th. Gilead Sciences’s dividend payout ratio is currently 40.06%.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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