Cullen Frost Bankers Inc. Decreases Stake in Gilead Sciences, Inc. (GILD)

Cullen Frost Bankers Inc. lessened its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.9% during the 4th quarter, HoldingsChannel reports. The fund owned 56,856 shares of the biopharmaceutical company’s stock after selling 2,304 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Gilead Sciences were worth $4,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank Pictet & Cie Asia Ltd. acquired a new stake in shares of Gilead Sciences in the second quarter valued at approximately $285,000. Martin Investment Management LLC increased its holdings in shares of Gilead Sciences by 2.4% in the second quarter. Martin Investment Management LLC now owns 144,265 shares of the biopharmaceutical company’s stock valued at $10,211,000 after purchasing an additional 3,380 shares during the last quarter. Key Square Capital Management LLC acquired a new stake in shares of Gilead Sciences in the second quarter valued at approximately $43,990,000. Marshall & Sullivan Inc. WA increased its holdings in shares of Gilead Sciences by 0.6% in the second quarter. Marshall & Sullivan Inc. WA now owns 21,462 shares of the biopharmaceutical company’s stock valued at $1,519,000 after purchasing an additional 125 shares during the last quarter. Finally, SNS Financial Group LLC increased its holdings in shares of Gilead Sciences by 41.4% in the second quarter. SNS Financial Group LLC now owns 6,768 shares of the biopharmaceutical company’s stock valued at $479,000 after purchasing an additional 1,983 shares during the last quarter. Institutional investors and hedge funds own 76.97% of the company’s stock.

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Several research firms have issued reports on GILD. Argus cut Gilead Sciences from a “buy” rating to a “hold” rating and raised their target price for the stock from $73.25 to $73.77 in a research note on Monday, November 13th. Maxim Group raised Gilead Sciences from a “hold” rating to a “buy” rating and raised their target price for the stock from $73.67 to $94.00 in a research note on Thursday, November 30th. Credit Suisse Group reissued a “buy” rating and set a $82.00 target price on shares of Gilead Sciences in a research note on Thursday, December 7th. BidaskClub raised Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, December 14th. Finally, Oppenheimer reissued a “hold” rating on shares of Gilead Sciences in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $87.75.

In related news, Chairman John C. Martin sold 50,000 shares of Gilead Sciences stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $83.56, for a total value of $4,178,000.00. Following the completion of the transaction, the chairman now directly owns 3,046,766 shares in the company, valued at $254,587,766.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gregg H. Alton sold 25,000 shares of Gilead Sciences stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $78.69, for a total value of $1,967,250.00. Following the completion of the transaction, the executive vice president now owns 69,426 shares of the company’s stock, valued at $5,463,131.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,435 shares of company stock valued at $33,602,330. 1.30% of the stock is currently owned by company insiders.

Shares of Gilead Sciences, Inc. (NASDAQ GILD) opened at $80.72 on Friday. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $89.54. The company has a quick ratio of 2.67, a current ratio of 2.74 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $104,889.14, a price-to-earnings ratio of 9.38, a PEG ratio of -1.84 and a beta of 1.24.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.11. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Gilead Sciences had a return on equity of 50.29% and a net margin of 17.73%. The company’s revenue was down 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.70 earnings per share. sell-side analysts predict that Gilead Sciences, Inc. will post 6.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be issued a $0.57 dividend. The ex-dividend date is Thursday, March 15th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Gilead Sciences’s dividend payout ratio (DPR) is 59.77%.

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

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