Todays Report: The Traynor Capital Management Inc. Increases Stake in Gilead Sciences Inc. (GILD)

The Traynor Capital Management Inc. Increases Stake in Gilead Sciences Inc. (GILD)

Traynor Capital Management Inc. increased its stake in Gilead Sciences Inc. (NASDAQ:GILD) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,375 shares of the biopharmaceutical company’s stock after buying an additional 1,357 shares during the period. Gilead Sciences makes up approximately 1.3% of Traynor Capital Management Inc.’s portfolio, making the stock its 18th largest position. Traynor Capital Management Inc.’s holdings in Gilead Sciences were worth $1,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Joel Isaacson & Co. LLC raised its position 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 worth $109,000 after buying an additional 226 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Gilead Sciences by 23.3% in the first quarter. Loomis Sayles & Co. L P now owns 1,591 shares of the biopharmaceutical company’s stock valued at $146,000 after buying an additional 301 shares in the last quarter. Jolley Asset Management LLC increased its stake in shares of Gilead Sciences by 67.3% in the second quarter. Jolley Asset Management LLC now owns 1,696 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 682 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Gilead Sciences by 47.8% in the second quarter. North Star Investment Management Corp. now owns 2,165 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 700 shares in the last quarter. Finally, Peoples Financial Services CORP. increased its stake in shares of Gilead Sciences by 30.4% in the second quarter. Peoples Financial Services CORP. now owns 2,575 shares of the biopharmaceutical company’s stock valued at $215,000 after buying an additional 600 shares in the last quarter. 77.93% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Inc. (NASDAQ:GILD) traded down 1.07% during mid-day trading on Wednesday, hitting $73.03. The stock had a trading volume of 9,981,504 shares. Gilead Sciences Inc. has a 12-month low of $72.92 and a 12-month high of $111.11. The stock has a 50-day moving average price of $78.59 and a 200 day moving average price of $84.75. The firm has a market cap of $96.37 billion, a P/E ratio of 6.41 and a beta of 1.10.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.06. The firm earned $7.78 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The business’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.15 EPS. Equities analysts anticipate that Gilead Sciences Inc. will post $11.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were given a $0.47 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.57%. Gilead Sciences’s dividend payout ratio (DPR) is presently 16.56%.

Several analysts have recently commented on the stock. Piper Jaffray Cos. set a $108.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a report on Sunday, August 21st. Jefferies Group reiterated a “hold” rating and issued a $96.00 target price on shares of Gilead Sciences in a report on Wednesday, June 29th. RBC Capital Markets reiterated an “outperform” rating and issued a $105.00 target price (down previously from $120.00) on shares of Gilead Sciences in a report on Tuesday, July 26th. Leerink Swann reiterated an “outperform” rating and issued a $127.00 target price on shares of Gilead Sciences in a report on Wednesday, June 29th. Finally, Zacks Investment Research upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $104.71.

In related news, EVP Paul Rutherford Carter sold 2,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $79.81, for a total value of $159,620.00. Following the completion of the sale, the executive vice president now directly owns 64,122 shares of the company’s stock, valued at approximately $5,117,576.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin E. Lofton sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $81.97, for a total value of $286,895.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate 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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