Conning Inc. raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 137,566 shares of the biopharmaceutical company’s stock after purchasing an additional 5,219 shares during the quarter. Conning Inc.’s holdings in Gilead Sciences were worth $9,532,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GILD. Welch Investments LLC bought a new position in shares of Gilead Sciences during the third quarter valued at approximately $108,000. Wealthcare Advisory Partners LLC bought a new position in shares of Gilead Sciences during the third quarter valued at approximately $133,000. Horan Capital Advisors LLC. bought a new position in Gilead Sciences in the 3rd quarter worth approximately $144,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Gilead Sciences in the 2nd quarter worth approximately $147,000. Finally, Hanson & Doremus Investment Management grew its holdings in Gilead Sciences by 806.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 1,613 shares in the last quarter. Hedge funds and other institutional investors own 76.97% of the company’s stock.
In other news, Chairman John C. Martin sold 50,000 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $78.65, for a total transaction of $3,932,500.00. Following the completion of the sale, the chairman now owns 3,067,762 shares in the company, valued at approximately $241,279,481.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robin L. Washington sold 5,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $80.31, for a total value of $401,550.00. Following the sale, the chief financial officer now owns 23,749 shares of the company’s stock, valued at approximately $1,907,282.19. The disclosure for this sale can be found here. Insiders have sold a total of 424,435 shares of company stock valued at $33,602,330 in the last quarter. Insiders own 1.30% of the company’s stock.
A number of brokerages recently issued reports on GILD. Barclays reissued an “overweight” rating and issued a $95.00 price objective (up from $90.00) on shares of Gilead Sciences in a report on Tuesday. BidaskClub lowered Gilead Sciences from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research raised Gilead Sciences from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Royal Bank of Canada reissued a “buy” rating and issued a $94.00 price objective on shares of Gilead Sciences in a report on Friday, February 23rd. Finally, Leerink Swann reissued a “market perform” rating and issued a $80.00 price objective (down from $83.00) on shares of Gilead Sciences in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $87.12.
Shares of Gilead Sciences, Inc. (GILD) opened at $79.32 on Wednesday. Gilead Sciences, Inc. has a 52-week low of $63.76 and a 52-week high of $89.54. The company has a market capitalization of $102,072.70, a price-to-earnings ratio of 22.79, a PEG ratio of -1.79 and a beta of 1.24. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.67 and a current ratio of 2.74.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.11. Gilead Sciences had a return on equity of 50.29% and a net margin of 17.73%. The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $2.70 EPS. The company’s quarterly revenue was down 18.7% compared to the same quarter last year. sell-side analysts forecast that Gilead Sciences, Inc. will post 6.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, March 15th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.52. Gilead Sciences’s dividend payout ratio is 59.77%.
Gilead Sciences Profile
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.
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).