Comerica Bank Has $27.78 Million Stake in Gilead Sciences, Inc. (GILD)

Comerica Bank lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 7.1% during the first quarter, Holdings Channel reports. The institutional investor owned 412,152 shares of the biopharmaceutical company’s stock after selling 31,348 shares during the quarter. Comerica Bank’s holdings in Gilead Sciences were worth $27,780,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Athena Capital Advisors LLC purchased a new stake in Gilead Sciences during the 4th quarter worth approximately $27,000. Capital Financial Planning LLC purchased a new stake in Gilead Sciences during the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV grew its position in Gilead Sciences by 55.9% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 460 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 165 shares during the last quarter. Advisors Preferred LLC purchased a new stake in Gilead Sciences during the 4th quarter worth approximately $31,000. Finally, Legacy Financial Advisors Inc. grew its position in Gilead Sciences by 361.3% during the 4th quarter. Legacy Financial Advisors Inc. now owns 489 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 383 shares during the last quarter. 79.94% of the stock is currently owned by hedge funds and other institutional investors.

GILD stock opened at $65.78 on Friday. The firm has a market capitalization of $83.25 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.14. The company has a current ratio of 3.62, a quick ratio of 3.53 and a debt-to-equity ratio of 1.09. Gilead Sciences, Inc. has a 12 month low of $60.32 and a 12 month high of $79.61.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.53 by $0.23. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.29 billion. Gilead Sciences had a net margin of 26.40% and a return on equity of 37.98%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 EPS. On average, research analysts expect that Gilead Sciences, Inc. will post 6.6 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Thursday, June 13th. Gilead Sciences’s dividend payout ratio is currently 40.98%.

In related news, Director John Francis Cogan sold 2,700 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $67.23, for a total value of $181,521.00. Following the completion of the transaction, the director now directly owns 57,560 shares in the company, valued at approximately $3,869,758.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gayle E. Wilson sold 19,068 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $67.08, for a total transaction of $1,279,081.44. Following the completion of the transaction, the director now owns 143,567 shares of the company’s stock, valued at $9,630,474.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,670 shares of company stock valued at $3,142,526. Company insiders own 0.20% of the company’s stock.

Several analysts have weighed in on the stock. Zacks Investment Research raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Tuesday, April 23rd. Mizuho set a $88.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Friday, May 10th. BidaskClub raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. ValuEngine raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Cowen reaffirmed a “buy” rating on shares of Gilead Sciences in a report on Friday, May 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Gilead Sciences currently has a consensus rating of “Buy” and an average price target of $81.61.

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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.

Further Reading: What is Put Option Volume?

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

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