Johnson Investment Counsel Inc. lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.0% in the second quarter, Holdings Channel reports. The institutional investor owned 24,280 shares of the biopharmaceutical company’s stock after selling 252 shares during the period. Johnson Investment Counsel Inc.’s holdings in Gilead Sciences were worth $1,672,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Gilead Sciences by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 105,017,942 shares of the biopharmaceutical company’s stock worth $7,231,535,000 after purchasing an additional 754,213 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Gilead Sciences by 6.0% during the 2nd quarter. Geode Capital Management LLC now owns 21,915,321 shares of the biopharmaceutical company’s stock worth $1,505,514,000 after buying an additional 1,244,015 shares during the period. Parnassus Investments CA grew its position in shares of Gilead Sciences by 88.5% during the 2nd quarter. Parnassus Investments CA now owns 10,362,033 shares of the biopharmaceutical company’s stock worth $713,530,000 after buying an additional 4,864,272 shares during the period. Legal & General Group Plc grew its position in shares of Gilead Sciences by 10.6% during the 2nd quarter. Legal & General Group Plc now owns 10,297,630 shares of the biopharmaceutical company’s stock worth $709,093,000 after buying an additional 984,246 shares during the period. Finally, Morgan Stanley grew its position in shares of Gilead Sciences by 30.4% during the 1st quarter. Morgan Stanley now owns 9,287,506 shares of the biopharmaceutical company’s stock worth $600,251,000 after buying an additional 2,163,164 shares during the period. Institutional investors and hedge funds own 78.04% of the company’s stock.
Several analysts recently issued reports on the stock. Royal Bank of Canada reissued a “buy” rating and issued a C$84.00 price target on shares of Gilead Sciences in a research report on Monday, August 23rd. Zacks Investment Research raised shares of Gilead Sciences from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a research report on Tuesday, August 10th. Oppenheimer started coverage on shares of Gilead Sciences in a research report on Monday, June 28th. They issued a “buy” rating and a $100.00 price target for the company. BMO Capital Markets raised their price objective on Gilead Sciences from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Friday, July 30th. Finally, Morgan Stanley raised their price objective on Gilead Sciences from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $105.72.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, July 29th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.11. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.15 billion. Gilead Sciences had a return on equity of 55.94% and a net margin of 19.38%. During the same quarter in the previous year, the firm earned $1.11 EPS. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post 7.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 15th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Tuesday, September 14th. Gilead Sciences’s payout ratio is 40.06%.
In other news, CAO Diane E. Wilfong sold 13,610 shares of the business’s stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $72.50, for a total transaction of $986,725.00. Following the completion of the transaction, the chief accounting officer now owns 30,179 shares of the company’s stock, valued at $2,187,977.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.12% of the stock is currently owned by insiders.
Gilead Sciences Profile
Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.
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