Essex Financial Services Inc. lowered its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,242 shares of the biopharmaceutical company’s stock after selling 1,456 shares during the quarter. Essex Financial Services Inc.’s holdings in Gilead Sciences were worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GILD. Reilly Financial Advisors LLC grew its stake in Gilead Sciences by 98.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 1,420 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 704 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Gilead Sciences in the 2nd quarter valued at $132,000. Brand Asset Management Group Inc. acquired a new position in Gilead Sciences in the 2nd quarter valued at $139,000. TRUE Private Wealth Advisors acquired a new position in Gilead Sciences in the 3rd quarter valued at $174,000. Finally, Wealthsource Partners LLC acquired a new position in Gilead Sciences in the 2nd quarter valued at $206,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

NASDAQ GILD opened at $71.18 on Friday. The company has a current ratio of 3.45, a quick ratio of 3.39 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $92.99 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of -2.79 and a beta of 1.01. Gilead Sciences, Inc. has a 52-week low of $64.27 and a 52-week high of $89.54.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.21. Gilead Sciences had a net margin of 7.12% and a return on equity of 39.32%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the business posted $2.27 EPS. Research analysts forecast that Gilead Sciences, Inc. will post 6.44 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 3.20%. Gilead Sciences’s dividend payout ratio (DPR) is currently 26.64%.

In other news, Director John C. Martin sold 50,000 shares of Gilead Sciences 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 approximately $227,505,229.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 150,000 shares of company stock worth $11,087,500. 1.30% of the stock is owned by company insiders.

GILD has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Wednesday, July 18th. Robert W. Baird lowered shares of Gilead Sciences from an “outperform” rating to a “neutral” rating and set a $79.00 target price on the stock. in a research note on Thursday, July 26th. Wells Fargo & Co raised their target price on shares of Gilead Sciences from $89.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Morgan Stanley raised their target price 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. Finally, Mizuho set a $94.00 price target on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $87.84.

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

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