The Arrow Financial Corp cuts position of Gilead Sciences Inc. (GILD)

The Arrow Financial Corp cuts position of Gilead Sciences Inc. (GILD)

Arrow Financial Corp reduced its stake in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 3.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,918 shares of the biopharmaceutical company’s stock after selling 1,397 shares during the period. Arrow Financial Corp’s holdings in Gilead Sciences were worth $3,413,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Gilead Sciences by 0.6% in the second quarter. CWM LLC now owns 2,957 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 17 shares during the period. Cypress Wealth Advisors LLC boosted its stake in Gilead Sciences by 1.4% in the first quarter. Cypress Wealth Advisors LLC now owns 3,875 shares of the biopharmaceutical company’s stock valued at $356,000 after buying an additional 54 shares during the period. Carroll Financial Associates Inc. boosted its stake in Gilead Sciences by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 4,875 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 60 shares during the period. Quadrant Capital Group LLC boosted its stake in Gilead Sciences by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 6,349 shares of the biopharmaceutical company’s stock valued at $520,000 after buying an additional 65 shares during the period. Finally, Mountain Pacific Investment Advisers Inc. ID boosted its stake in Gilead Sciences by 2.1% in the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 3,574 shares of the biopharmaceutical company’s stock valued at $298,000 after buying an additional 74 shares during the period. 78.00% of the stock is owned by institutional investors.

Shares of Gilead Sciences Inc. (NASDAQ:GILD) traded down 2.57% during midday trading on Friday, reaching $73.88. The company had a trading volume of 13,159,961 shares. Gilead Sciences Inc. has a one year low of $72.21 and a one year high of $109.95. The company has a 50 day moving average price of $76.82 and a 200-day moving average price of $83.01. The firm has a market capitalization of $97.50 billion, a P/E ratio of 6.48 and a beta of 1.10.

Several research firms have recently commented on GILD. Piper Jaffray Cos. set a $108.00 target price on Gilead Sciences and gave the company a “buy” rating in a research note on Sunday, August 21st. Cowen and Company set a $120.00 price objective on Gilead Sciences and gave the stock a “buy” rating in a research note on Sunday, October 23rd. Jefferies Group reaffirmed a “hold” rating and set a $97.00 price objective on shares of Gilead Sciences in a research note on Friday, July 15th. Argus cut Gilead Sciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $88.00 to $81.00 in a research note on Friday, July 29th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $105.00 price objective (down from $120.00) on shares of Gilead Sciences in a research note on Tuesday, July 26th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $102.85.

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

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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