Blume Capital Management Inc. boosted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,615 shares of the biopharmaceutical company’s stock after purchasing an additional 165 shares during the period. Blume Capital Management Inc.’s holdings in Gilead Sciences were worth $244,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GILD. Creative Financial Designs Inc. ADV increased its stake in shares of Gilead Sciences by 55.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 460 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 165 shares during the period. Trustcore Financial Services LLC bought a new position in Gilead Sciences during the first quarter valued at about $34,000. Weaver Consulting Group bought a new position in Gilead Sciences during the first quarter valued at about $34,000. Legacy Advisors LLC bought a new position in Gilead Sciences during the second quarter valued at about $37,000. Finally, Founders Capital Management increased its stake in Gilead Sciences by 50.0% during the first quarter. Founders Capital Management now owns 600 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 200 shares during the period. 78.87% of the stock is owned by hedge funds and other institutional investors.
In other Gilead Sciences news, EVP Brett A. Pletcher sold 5,816 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $68.75, for a total transaction of $399,850.00. Following the transaction, the executive vice president now owns 27,198 shares of the company’s stock, valued at approximately $1,869,862.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Brett A. Pletcher sold 7,200 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $65.07, for a total value of $468,504.00. Following the transaction, the executive vice president now directly owns 34,398 shares in the company, valued at approximately $2,238,277.86. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.68 by $0.14. The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.54 billion. Gilead Sciences had a return on equity of 37.12% and a net margin of 26.64%. Gilead Sciences’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 EPS. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 6.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, September 12th. Gilead Sciences’s dividend payout ratio is 40.98%.
A number of equities research analysts have weighed in on GILD shares. Evercore ISI reaffirmed a “buy” rating on shares of Gilead Sciences in a report on Friday, May 17th. Raymond James lifted their price objective on Gilead Sciences from $83.00 to $86.00 and gave the company a “strong-buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group set a $95.00 price objective on Gilead Sciences and gave the company a “buy” rating in a report on Monday, July 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $85.00 price objective on shares of Gilead Sciences in a report on Wednesday, July 31st. Finally, Royal Bank of Canada raised Gilead Sciences from an “outperform” rating to a “top pick” rating and set a $91.00 price objective on the stock in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Gilead Sciences has an average rating of “Buy” and an average target price of $82.29.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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