Pinnacle Associates Ltd. Acquires 2,594 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)
Pinnacle Associates Ltd. grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 202,172 shares of the biopharmaceutical company’s stock after purchasing an additional 2,594 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Gilead Sciences were worth $15,114,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Pin Oak Investment Advisors Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $26,000. Baldwin Brothers Inc. MA raised its holdings in shares of Gilead Sciences by 63.3% in the 1st quarter. Baldwin Brothers Inc. MA now owns 351 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. IndexIQ Advisors LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $28,000. Engrave Wealth Partners LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Finally, Tortoise Investment Management LLC raised its holdings in shares of Gilead Sciences by 922.2% in the 4th quarter. Tortoise Investment Management LLC now owns 460 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.
Several equities research analysts have recently commented on GILD shares. Jefferies Financial Group restated a “buy” rating and issued a $89.00 price target on shares of Gilead Sciences in a report on Monday, April 13th. UBS Group lowered shares of Gilead Sciences from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $77.00 to $80.00 in a research note on Monday, April 27th. TheStreet raised shares of Gilead Sciences from a “c” rating to a “b-” rating in a report on Friday, February 21st. Cowen reissued a “buy” rating and set a $80.00 target price on shares of Gilead Sciences in a research note on Monday, April 13th. Finally, SVB Leerink raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $94.00 in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $79.31.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.11. Gilead Sciences had a net margin of 21.84% and a return on equity of 35.44%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the business earned $1.67 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Research analysts expect that Gilead Sciences, Inc. will post 6.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.66%. Gilead Sciences’s dividend payout ratio is currently 44.30%.
In other Gilead Sciences news, CAO Diane E. Wilfong sold 12,264 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $80.09, for a total value of $982,223.76. Following the transaction, the chief accounting officer now owns 23,685 shares in the company, valued at approximately $1,896,931.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Francis Cogan sold 2,413 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $77.97, for a total transaction of $188,141.61. Following the completion of the transaction, the director now owns 57,273 shares in the company, valued at approximately $4,465,575.81. The disclosure for this sale can be found here. Insiders have sold 50,144 shares of company stock worth $3,931,225 in the last 90 days. 0.13% of the stock is owned by company insiders.
Gilead Sciences 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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