Pennsylvania Trust Co Trims Stake in Gilead Sciences, Inc. (GILD)
Pennsylvania Trust Co trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 71.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,261 shares of the biopharmaceutical company’s stock after selling 67,970 shares during the period. Pennsylvania Trust Co’s holdings in Gilead Sciences were worth $2,105,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in GILD. BKD Wealth Advisors LLC raised its stake in shares of Gilead Sciences by 13.1% in the 3rd quarter. BKD Wealth Advisors LLC now owns 32,440 shares of the biopharmaceutical company’s stock valued at $2,505,000 after acquiring an additional 3,749 shares in the last quarter. Denali Advisors LLC raised its stake in shares of Gilead Sciences by 3.3% in the 3rd quarter. Denali Advisors LLC now owns 160,603 shares of the biopharmaceutical company’s stock valued at $12,400,000 after acquiring an additional 5,200 shares in the last quarter. Silverleafe Capital Partners LLC raised its stake in shares of Gilead Sciences by 17.4% in the 3rd quarter. Silverleafe Capital Partners LLC now owns 4,719 shares of the biopharmaceutical company’s stock valued at $364,000 after acquiring an additional 701 shares in the last quarter. Franklin Street Advisors Inc. NC raised its stake in shares of Gilead Sciences by 2.7% in the 3rd quarter. Franklin Street Advisors Inc. NC now owns 117,008 shares of the biopharmaceutical company’s stock valued at $9,034,000 after acquiring an additional 3,126 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Gilead Sciences in the 3rd quarter valued at approximately $360,000. Institutional investors and hedge funds own 77.99% of the company’s stock.
A number of brokerages recently weighed in on GILD. Morgan Stanley raised their price objective on Gilead Sciences from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, July 26th. Piper Jaffray Companies set a $85.00 price objective on Gilead Sciences and gave the company a “buy” rating in a research note on Wednesday, September 12th. Raymond James began coverage on Gilead Sciences in a research note on Thursday, June 28th. They issued a “strong-buy” rating and a $93.00 price objective on the stock. BidaskClub raised Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Zacks Investment Research downgraded Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $88.24.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, July 25th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.35. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.20 billion. Gilead Sciences had a return on equity of 41.57% and a net margin of 9.52%. The company’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.56 EPS. On average, research analysts forecast that Gilead Sciences, Inc. will post 6.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Shareholders of record on Friday, September 14th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Thursday, September 13th. Gilead Sciences’s dividend payout ratio is currently 26.64%.
In other Gilead Sciences news, Director John C. Martin sold 50,000 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $77.85, for a total value of $3,892,500.00. Following the transaction, the director now directly owns 3,067,762 shares of the company’s stock, valued at approximately $238,825,271.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 150,000 shares of company stock worth $11,502,500. Company insiders own 1.16% of the company’s stock.
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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