Ipswich Investment Management Co. Inc. Has $603,000 Position in Gilead Sciences, Inc. (GILD)

Ipswich Investment Management Co. Inc. cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 73.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,526 shares of the biopharmaceutical company’s stock after selling 24,161 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Gilead Sciences were worth $603,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Wright Investors Service Inc. boosted its stake in Gilead Sciences by 13.1% in the second quarter. Wright Investors Service Inc. now owns 37,146 shares of the biopharmaceutical company’s stock valued at $2,629,000 after buying an additional 4,310 shares during the period. Vicus Capital boosted its stake in Gilead Sciences by 12.7% in the second quarter. Vicus Capital now owns 8,745 shares of the biopharmaceutical company’s stock valued at $619,000 after buying an additional 983 shares during the period. Washington Trust Bank boosted its stake in Gilead Sciences by 24.8% in the second quarter. Washington Trust Bank now owns 2,767 shares of the biopharmaceutical company’s stock valued at $196,000 after buying an additional 550 shares during the period. Crossvault Capital Management LLC boosted its stake in Gilead Sciences by 25.4% in the second quarter. Crossvault Capital Management LLC now owns 66,100 shares of the biopharmaceutical company’s stock valued at $4,679,000 after buying an additional 13,374 shares during the period. Finally, Doyle Wealth Management boosted its stake in Gilead Sciences by 16.3% in the second quarter. Doyle Wealth Management now owns 139,213 shares of the biopharmaceutical company’s stock valued at $9,854,000 after buying an additional 19,463 shares during the period. 74.02% of the stock is owned by institutional investors and hedge funds.

Shares of Gilead Sciences, Inc. (NASDAQ GILD) traded up 0.56% during midday trading on Wednesday, reaching $73.53. 2,382,907 shares of the company traded hands. The firm has a market capitalization of $96.02 billion, a P/E ratio of 7.99 and a beta of 1.21. Gilead Sciences, Inc. has a 12 month low of $63.76 and a 12 month high of $82.10. The company has a 50 day moving average of $72.48 and a 200 day moving average of $68.76.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the prior year, the firm posted $3.08 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, equities research analysts predict that Gilead Sciences, Inc. will post $8.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.84%. Gilead Sciences’s dividend payout ratio (DPR) is 22.58%.

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Several analysts have recently weighed in on the stock. BidaskClub cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Friday, July 28th. Cowen and Company reissued an “outperform” rating and issued a $90.00 price target on shares of Gilead Sciences in a research note on Thursday, July 27th. Deutsche Bank AG reissued a “buy” rating and issued a $81.00 price target (up previously from $79.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $82.00 price target (up previously from $72.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Twelve research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $80.31.

In other Gilead Sciences news, insider John C. Martin sold 73,333 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $71.00, for a total transaction of $5,206,643.00. Following the transaction, the insider now directly owns 3,199,969 shares in the company, valued at approximately $227,197,799. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregg H. Alton sold 15,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $75.88, for a total transaction of $1,138,200.00. Following the transaction, the executive vice president now owns 106,113 shares in the company, valued at $8,051,854.44. The disclosure for this sale can be found here. Insiders have sold a total of 206,666 shares of company stock worth $15,223,184 over the last quarter. 1.30% of the stock is currently owned by insiders.

About Gilead Sciences

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.

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

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