KCM Investment Advisors LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 31.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,389 shares of the biopharmaceutical company’s stock after selling 4,400 shares during the quarter. KCM Investment Advisors LLC’s holdings in Gilead Sciences were worth $665,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Montecito Bank & Trust grew its holdings in Gilead Sciences by 42.2% in the first quarter. Montecito Bank & Trust now owns 8,697 shares of the biopharmaceutical company’s stock valued at $591,000 after purchasing an additional 2,582 shares during the period. Destination Wealth Management acquired a new stake in Gilead Sciences in the first quarter valued at approximately $494,000. Goelzer Investment Management Inc. grew its holdings in Gilead Sciences by 17.5% in the first quarter. Goelzer Investment Management Inc. now owns 87,040 shares of the biopharmaceutical company’s stock valued at $5,912,000 after purchasing an additional 12,976 shares during the period. Karp Capital Management Corp acquired a new stake in Gilead Sciences in the first quarter valued at approximately $37,520,000. Finally, First Foundation Advisors grew its holdings in Gilead Sciences by 5.2% in the first quarter. First Foundation Advisors now owns 118,366 shares of the biopharmaceutical company’s stock valued at $8,040,000 after purchasing an additional 5,815 shares during the period. Institutional investors own 76.30% of the company’s stock.
GILD has been the topic of several research analyst reports. Argus raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Thursday, August 31st. Deutsche Bank AG reissued a “buy” rating and issued a $81.00 price objective on shares of Gilead Sciences in a report on Thursday, August 31st. Vetr raised Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $91.98 price objective on the stock in a report on Friday, October 13th. Credit Suisse Group reissued an “outperform” rating and issued a $85.00 price objective (up from $79.00) on shares of Gilead Sciences in a report on Tuesday, August 29th. Finally, Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Gilead Sciences has an average rating of “Buy” and a consensus target price of $84.87.
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Gilead Sciences, Inc. (NASDAQ:GILD) opened at $72.51 on Wednesday. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $86.27. The company has a market capitalization of $94,221.18, a price-to-earnings ratio of 7.53, a P/E/G ratio of -1.21 and a beta of 1.13. The company has a current ratio of 3.68, a quick ratio of 3.56 and a debt-to-equity ratio of 1.10.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the previous year, the firm posted $2.75 EPS. Gilead Sciences’s revenue for the quarter was down 13.2% on a year-over-year basis. analysts anticipate that Gilead Sciences, Inc. will post 8.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.08 annualized dividend and a yield of 2.87%. Gilead Sciences’s payout ratio is 23.69%.
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.
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