First Manhattan Co. lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,101,717 shares of the biopharmaceutical company’s stock after selling 83,082 shares during the quarter. Gilead Sciences accounts for approximately 0.8% of First Manhattan Co.’s holdings, making the stock its 25th biggest holding. First Manhattan Co.’s holdings in Gilead Sciences were worth $136,632,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Athena Capital Advisors LLC bought a new stake in shares of Gilead Sciences in the 4th quarter worth about $27,000. Capital Financial Planning LLC bought a new stake in shares of Gilead Sciences in the 4th quarter worth about $27,000. Advisors Preferred LLC bought a new stake in shares of Gilead Sciences in the 4th quarter worth about $31,000. Legacy Financial Advisors Inc. increased its position in shares of Gilead Sciences by 361.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 489 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 383 shares during the last quarter. Finally, Claybrook Capital LLC bought a new stake in shares of Gilead Sciences in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 80.20% of the company’s stock.
In other Gilead Sciences news, Director John Francis Cogan sold 2,700 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $67.23, for a total value of $181,521.00. Following the completion of the transaction, the director now owns 57,560 shares in the company, valued at approximately $3,869,758.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard James Whitley sold 9,534 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $65.48, for a total transaction of $624,286.32. Following the completion of the transaction, the director now owns 34,669 shares of the company’s stock, valued at approximately $2,270,126.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,402 shares of company stock valued at $2,613,954. 0.20% of the stock is owned by insiders.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Monday, February 4th. The biopharmaceutical company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.26). Gilead Sciences had a net margin of 24.65% and a return on equity of 37.03%. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the company earned $1.78 EPS. Gilead Sciences’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts expect that Gilead Sciences, Inc. will post 6.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.63 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, March 14th. This represents a $2.52 annualized dividend and a yield of 3.90%. Gilead Sciences’s dividend payout ratio is 40.98%.
Several research firms have recently weighed in on GILD. Wells Fargo & Co downgraded shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $95.00 to $68.00 in a research report on Monday, February 11th. Zacks Investment Research raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. UBS Group raised shares of Gilead Sciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $77.00 in a research report on Wednesday, April 10th. Raymond James set a $90.00 price objective on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Tuesday, February 5th. Finally, Citigroup downgraded shares of Gilead Sciences from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $100.00 to $75.00 in a research report on Tuesday, February 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $82.00.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. Its primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.
See Also: Ex-Dividend
Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD).
Receive News & Ratings for Gilead Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences and related companies with MarketBeat.com's FREE daily email newsletter.