Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Valeo Financial Advisors LLC
Valeo Financial Advisors LLC trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 36.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,184 shares of the biopharmaceutical company’s stock after selling 12,762 shares during the period. Valeo Financial Advisors LLC’s holdings in Gilead Sciences were worth $1,712,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Archford Capital Strategies LLC acquired a new position in shares of Gilead Sciences during the 1st quarter worth about $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Gilead Sciences during the 2nd quarter worth about $132,000. Brand Asset Management Group Inc. acquired a new position in shares of Gilead Sciences during the 2nd quarter worth about $139,000. Stelac Advisory Services LLC acquired a new position in Gilead Sciences in the 1st quarter valued at approximately $141,000. Finally, Mckinley Capital Management LLC Delaware raised its holdings in Gilead Sciences by 67.7% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 2,130 shares of the biopharmaceutical company’s stock valued at $161,000 after acquiring an additional 860 shares in the last quarter. 78.04% of the stock is currently owned by hedge funds and other institutional investors.
In other Gilead Sciences news, Director John C. Martin sold 50,000 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $77.85, for a total transaction of $3,892,500.00. Following the completion of the transaction, the director now owns 3,067,762 shares in the company, valued at approximately $238,825,271.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 150,000 shares of company stock valued at $11,141,000. Corporate insiders own 1.30% of the company’s stock.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, July 25th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.35. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Gilead Sciences had a return on equity of 41.57% and a net margin of 9.52%. The company’s revenue was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.56 EPS. analysts predict that Gilead Sciences, Inc. will post 6.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders 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 3.11%. The ex-dividend date of this dividend is Thursday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 26.64%.
Several equities research analysts have recently weighed in on GILD shares. Mizuho reiterated a “buy” rating and issued a $94.00 price objective on shares of Gilead Sciences in a research note on Friday, August 10th. BidaskClub lowered Gilead Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. Morgan Stanley increased their price target on Gilead Sciences from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 26th. Raymond James initiated coverage on Gilead Sciences in a research report on Thursday, June 28th. They set a “strong-buy” rating and a $93.00 price target on the stock. Finally, ValuEngine lowered Gilead Sciences from a “hold” rating to a “sell” rating in a research report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $88.30.
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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