Today, Insider Selling: Gilead Sciences Inc. (GILD) Director Sold $7,860,300.00 in Stock

Today, Insider Selling: Gilead Sciences Inc. (GILD) Director Sold $7,860,300.00 in Stock

Gilead Sciences Inc. (NASDAQ:GILD) Director John W. Madigan sold 105,000 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $74.86, for a total transaction of $7,860,300.00. Following the completion of the sale, the director now directly owns 121,761 shares of the company’s stock, valued at approximately $9,115,028.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Gilead Sciences Inc. (NASDAQ:GILD) opened at 75.30 on Friday. The stock has a 50 day moving average of $74.67 and a 200-day moving average of $80.27. Gilead Sciences Inc. has a one year low of $71.39 and a one year high of $108.63. The firm has a market capitalization of $99.20 billion, a PE ratio of 6.96 and a beta of 1.25.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by $0.12. The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.47 billion. Gilead Sciences had a net margin of 47.74% and a return on equity of 100.57%. Gilead Sciences’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the business posted $3.22 earnings per share. On average, equities analysts predict that Gilead Sciences Inc. will post $11.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Tuesday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is 17.44%.

Several research analysts recently commented on GILD shares. Jefferies Group upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $76.89 to $91.00 in a research note on Tuesday, September 6th. Piper Jaffray Cos. set a $108.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Sunday, August 21st. RBC Capital Markets set a $105.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Thursday, August 11th. Berenberg Bank started coverage on shares of Gilead Sciences in a research note on Monday, September 12th. They set a “buy” rating and a $112.00 price objective for the company. Finally, Leerink Swann set a $112.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Thursday, September 22nd. Ten analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $97.90.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors raised its position in shares of Gilead Sciences by 9.7% in the third quarter. Capital Research Global Investors now owns 27,886,530 shares of the biopharmaceutical company’s stock worth $2,206,382,000 after buying an additional 2,474,271 shares during the period. Bank of New York Mellon Corp raised its position in shares of Gilead Sciences by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 26,786,930 shares of the biopharmaceutical company’s stock worth $2,119,382,000 after buying an additional 169,701 shares during the period. BlackRock Fund Advisors raised its position in shares of Gilead Sciences by 6.8% in the third quarter. BlackRock Fund Advisors now owns 26,032,555 shares of the biopharmaceutical company’s stock worth $2,059,696,000 after buying an additional 1,663,268 shares during the period. Capital World Investors raised its position in shares of Gilead Sciences by 28.3% in the second quarter. Capital World Investors now owns 15,318,948 shares of the biopharmaceutical company’s stock worth $1,277,907,000 after buying an additional 3,380,000 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Gilead Sciences by 17.0% in the second quarter. Alliancebernstein L.P. now owns 13,346,714 shares of the biopharmaceutical company’s stock worth $1,113,383,000 after buying an additional 1,942,138 shares during the period. 76.65% of the stock is currently owned by institutional investors.

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