Jolley Asset Management LLC Has $3.91 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Jolley Asset Management LLC grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,147 shares of the biopharmaceutical company’s stock after purchasing an additional 3,237 shares during the period. Gilead Sciences comprises about 2.8% of Jolley Asset Management LLC’s holdings, making the stock its 23rd largest holding. Jolley Asset Management LLC’s holdings in Gilead Sciences were worth $3,910,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GILD. Bank of New York Mellon Corp lifted its stake in shares of Gilead Sciences by 199,789.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 31,350,714 shares of the biopharmaceutical company’s stock valued at $2,420,587,000 after acquiring an additional 31,335,030 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Gilead Sciences by 5,733.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 28,988,297 shares of the biopharmaceutical company’s stock valued at $463,000 after acquiring an additional 28,491,386 shares during the last quarter. Norges Bank bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $798,882,000. BlackRock Inc. lifted its stake in shares of Gilead Sciences by 2.2% in the 4th quarter. BlackRock Inc. now owns 104,186,077 shares of the biopharmaceutical company’s stock valued at $6,516,839,000 after acquiring an additional 2,195,948 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Gilead Sciences by 21.1% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 10,241,394 shares of the biopharmaceutical company’s stock valued at $790,738,000 after acquiring an additional 1,786,881 shares during the last quarter. 80.07% of the stock is owned by hedge funds and other institutional investors.

Shares of GILD stock traded down $0.56 during midday trading on Friday, reaching $65.57. 5,909,895 shares of the stock were exchanged, compared to its average volume of 6,997,932. Gilead Sciences, Inc. has a 1 year low of $60.32 and a 1 year high of $79.61. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.56 and a current ratio of 3.62. The company has a market capitalization of $84.09 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.23. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.29 billion. Gilead Sciences had a return on equity of 37.98% and a net margin of 26.40%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 EPS. Sell-side analysts forecast that Gilead Sciences, Inc. will post 6.6 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.52 annualized dividend and a dividend yield of 3.84%. Gilead Sciences’s payout ratio is 40.98%.

GILD has been the subject of a number of recent research reports. Zacks Investment Research lowered Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Citigroup reissued a “buy” rating and issued a $100.00 target price on shares of Gilead Sciences in a research note on Tuesday, February 5th. Wells Fargo & Co reduced their price target on Gilead Sciences from $95.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, February 5th. Raymond James set a $90.00 price target on Gilead Sciences and gave the company a “buy” rating in a report on Tuesday, February 5th. Finally, Maxim Group set a $84.00 price target on Gilead Sciences and gave the company a “buy” rating in a report on Tuesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $81.61.

In other news, Director Richard James Whitley sold 9,534 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $65.48, for a total value of $624,286.32. Following the completion of the sale, the director now directly owns 34,669 shares in the company, valued at approximately $2,270,126.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Francis Cogan sold 2,868 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $64.89, for a total value of $186,104.52. Following the completion of the sale, the director now owns 57,728 shares of the company’s stock, valued at $3,745,969.92. The disclosure for this sale can be found here. Insiders have sold a total of 47,670 shares of company stock worth $3,142,526 over the last three months. Insiders own 0.20% of the company’s stock.

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Gilead Sciences Company Profile

Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. Its primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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