Today, Cornerstone Wealth Management LLC Invests $207,000 in Gilead Sciences Inc. (GILD)

Today, Cornerstone Wealth Management LLC Invests $207,000 in Gilead Sciences Inc. (GILD)
Cornerstone Wealth Management LLC bought a new position in shares of Gilead Sciences Inc. (NASDAQ:GILD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,677 shares of the biopharmaceutical company’s stock, valued at approximately $207,000.

Other large investors also recently made changes to their positions in the company. Van Hulzen Asset Management LLC raised its stake in Gilead Sciences by 9.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 100 shares during the period. Gemmer Asset Management LLC raised its stake in Gilead Sciences by 15.5% in the third quarter. Gemmer Asset Management LLC now owns 1,301 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 175 shares during the period. Joel Isaacson & Co. LLC raised its stake in Gilead Sciences by 20.8% in the second quarter. Joel Isaacson & Co. LLC now owns 1,310 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 226 shares during the period. Roble Belko & Company Inc raised its stake in Gilead Sciences by 340.5% in the second quarter. Roble Belko & Company Inc now owns 1,339 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,035 shares during the period. Finally, Pinkerton Retirement Specialists LLC raised its stake in Gilead Sciences by 9,305.9% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,599 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 1,582 shares during the period. Institutional investors and hedge funds own 76.65% of the company’s stock.

Shares of Gilead Sciences Inc. (NASDAQ:GILD) traded up 0.19% during trading on Friday, reaching $75.44. 3,068,606 shares of the company traded hands. The company has a market capitalization of $99.39 billion, a price-to-earnings ratio of 6.98 and a beta of 1.25. Gilead Sciences Inc. has a 52 week low of $71.39 and a 52 week high of $108.31. The firm’s 50 day moving average price is $74.56 and its 200-day moving average price is $80.20.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, November 1st. The biopharmaceutical company reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.87 by $0.12. The firm earned $7.40 billion during 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%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.22 earnings per share. Equities analysts anticipate that Gilead Sciences Inc. will post $11.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be issued 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 17.44%.

Several research analysts recently weighed in on the stock. Berenberg Bank assumed coverage on shares of Gilead Sciences in a report on Thursday, September 22nd. They issued a “buy” rating for the company. Jefferies Group reaffirmed a “buy” rating and issued a $91.00 target price on shares of Gilead Sciences in a report on Thursday, September 22nd. Piper Jaffray Cos. set a $108.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Thursday, September 22nd. Leerink Swann set a $112.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Thursday, September 22nd. Finally, Gabelli reaffirmed a “buy” rating on shares of Gilead Sciences in a report on Friday, September 23rd. Ten research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $97.90.

In other Gilead Sciences news, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $81.84, for a total value of $409,200.00. Following the transaction, the executive vice president now directly owns 132,964 shares in the company, valued at approximately $10,881,773.76. The transaction was disclosed in a document filed 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 dated Friday, November 18th. The shares were sold at an average price of $74.86, for a total transaction of $7,860,300.00. Following the completion of the transaction, the director now owns 121,761 shares in the company, valued at $9,115,028.46. The disclosure for this sale can be found here. 1.40% of the stock is currently 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.

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