Canandaigua National Bank & Trust Co. cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 15.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,843 shares of the biopharmaceutical company’s stock after selling 3,433 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Gilead Sciences were worth $1,335,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in GILD. Matrix Asset Advisors Inc. NY increased its stake in Gilead Sciences by 7.2% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 239,715 shares of the biopharmaceutical company’s stock valued at $17,173,000 after purchasing an additional 16,178 shares in the last quarter. CWA Asset Management Group LLC increased its stake in Gilead Sciences by 586.7% during the 4th quarter. CWA Asset Management Group LLC now owns 25,559 shares of the biopharmaceutical company’s stock valued at $1,831,000 after purchasing an additional 21,837 shares in the last quarter. American Money Management LLC increased its stake in Gilead Sciences by 223.1% during the 4th quarter. American Money Management LLC now owns 60,787 shares of the biopharmaceutical company’s stock valued at $4,355,000 after purchasing an additional 41,972 shares in the last quarter. Scotia Capital Inc. increased its stake in Gilead Sciences by 1.1% during the 4th quarter. Scotia Capital Inc. now owns 170,204 shares of the biopharmaceutical company’s stock valued at $12,195,000 after purchasing an additional 1,910 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. increased its stake in Gilead Sciences by 10.1% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 319,126 shares of the biopharmaceutical company’s stock valued at $22,862,000 after purchasing an additional 29,310 shares in the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.

In related news, Director John C. Martin sold 50,000 shares of the stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $70.81, for a total transaction of $3,540,500.00. Following the sale, the director now directly owns 3,067,762 shares of the company’s stock, valued at $217,228,227.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 150,000 shares of company stock worth $10,839,500 over the last three months. 1.30% of the stock is currently owned by insiders.

A number of research analysts have issued reports on GILD shares. BidaskClub upgraded shares of Gilead Sciences from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 6th. Zacks Investment Research upgraded shares of Gilead Sciences from a “sell” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Thursday, April 19th. Barclays cut their price target on shares of Gilead Sciences from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. Mizuho restated a “buy” rating and set a $94.00 price target on shares of Gilead Sciences in a research note on Friday. Finally, Piper Jaffray Companies started coverage on shares of Gilead Sciences in a research note on Wednesday, May 30th. They set a “buy” rating and a $85.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $88.00.

GILD stock opened at $76.73 on Friday. The firm has a market capitalization of $99.70 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of -5.86 and a beta of 1.03. The company has a current ratio of 3.00, a quick ratio of 3.23 and a debt-to-equity ratio of 1.23. Gilead Sciences, Inc. has a 12 month low of $64.27 and a 12 month high of $89.54.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, July 25th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.56 by $0.35. Gilead Sciences had a net margin of 9.52% and a return on equity of 41.57%. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the prior year, the firm earned $2.56 EPS. The business’s revenue for the quarter was down 20.9% on a year-over-year basis. research analysts expect that Gilead Sciences, Inc. will post 6.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Friday, September 14th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Thursday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 26.64%.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics 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, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.

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

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