Cornerstone Financial Partners LLC reduced its position in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 12.3% during the third quarter, Holdings Channel reports. The institutional investor owned 9,557 shares of the biopharmaceutical company’s stock after selling 1,346 shares during the period. Cornerstone Financial Partners LLC’s holdings in Gilead Sciences were worth $755,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. Atlanta Capital Management Co. L L C increased its position in Gilead Sciences by 6.9% in the first quarter. Atlanta Capital Management Co. L L C now owns 705,449 shares of the biopharmaceutical company’s stock worth $64,803,000 after buying an additional 45,581 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Gilead Sciences during the first quarter worth $552,000. Sapphire Star Partners LP increased its position in Gilead Sciences by 100.0% in the first quarter. Sapphire Star Partners LP now owns 7,400 shares of the biopharmaceutical company’s stock worth $748,000 after buying an additional 3,700 shares in the last quarter. Highland Private Wealth Management bought a new position in Gilead Sciences during the first quarter worth $289,000. Finally, Chilton Capital Management LLC increased its position in Gilead Sciences by 3.8% in the first quarter. Chilton Capital Management LLC now owns 179,420 shares of the biopharmaceutical company’s stock worth $16,482,000 after buying an additional 6,606 shares in the last quarter. 76.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gilead Sciences Inc. (NASDAQ:GILD) traded up 0.19% during trading on Friday, hitting $75.44. The stock had a trading volume of 3,068,606 shares. Gilead Sciences Inc. has a 52 week low of $71.39 and a 52 week high of $108.31. The stock has a market capitalization of $99.39 billion, a price-to-earnings ratio of 6.98 and a beta of 1.25. The firm has a 50 day moving average price of $74.56 and a 200-day moving average price of $80.20.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, November 1st. The biopharmaceutical company reported $2.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.87 by $0.12. The firm earned $7.40 billion during the quarter, compared to the consensus estimate of $7.47 billion. Gilead Sciences had a return on equity of 100.57% and a net margin of 47.74%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.22 EPS. On average, equities research analysts forecast that Gilead Sciences Inc. will post $11.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be given a $0.47 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $1.88 annualized dividend and a yield of 2.49%. Gilead Sciences’s payout ratio is currently 17.44%.
Several research analysts have recently commented on the company. Barclays PLC reiterated an “overweight” rating on shares of Gilead Sciences in a research note on Thursday, July 28th. Royal Bank Of Canada lifted their target price on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, October 3rd. Bank of America Corp. reiterated a “neutral” rating and set a $100.00 target price on shares of Gilead Sciences in a research note on Sunday, September 25th. Stifel Nicolaus assumed coverage on Gilead Sciences in a research note on Monday, November 14th. They set a “buy” rating and a $100.00 target price for the company. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $97.90.
In other Gilead Sciences news, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $81.84, for a total value of $409,200.00. Following the completion of the sale, the executive vice president now owns 132,964 shares in the company, valued at $10,881,773.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Madigan sold 105,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $74.86, for a total value of $7,860,300.00. Following the completion of the sale, the director now owns 121,761 shares of the company’s stock, valued at approximately $9,115,028.46. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.