Cetera Advisor Networks LLC Cuts Holdings in Gilead Sciences, Inc. (GILD)

Cetera Advisor Networks LLC lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 36,021 shares of the biopharmaceutical company’s stock after selling 1,681 shares during the period. Cetera Advisor Networks LLC’s holdings in Gilead Sciences were worth $2,351,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its position in shares of Gilead Sciences by 5,733.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,988,297 shares of the biopharmaceutical company’s stock worth $463,000 after purchasing an additional 28,491,386 shares in the last quarter. Norges Bank bought a new stake in shares of Gilead Sciences in the fourth quarter worth $798,882,000. Parnassus Investments CA lifted its position in shares of Gilead Sciences by 21.2% in the first quarter. Parnassus Investments CA now owns 13,074,555 shares of the biopharmaceutical company’s stock worth $849,976,000 after purchasing an additional 2,288,767 shares in the last quarter. BlackRock Inc. lifted its position in shares of Gilead Sciences by 2.2% in the fourth quarter. BlackRock Inc. now owns 104,186,077 shares of the biopharmaceutical company’s stock worth $6,516,839,000 after purchasing an additional 2,195,948 shares in the last quarter. Finally, Vanguard Group Inc lifted its position in shares of Gilead Sciences by 1.1% in the third quarter. Vanguard Group Inc now owns 97,167,329 shares of the biopharmaceutical company’s stock worth $7,502,290,000 after purchasing an additional 1,071,619 shares in the last quarter. 78.68% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director John Francis Cogan sold 2,700 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $62.61, for a total transaction of $169,047.00. Following the transaction, the director now directly owns 57,560 shares in the company, valued at $3,603,831.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard James Whitley sold 9,534 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $65.48, for a total transaction of $624,286.32. Following the transaction, the director now owns 34,669 shares in the company, valued at $2,270,126.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,602 shares of company stock worth $1,863,445. 0.20% of the stock is owned by corporate insiders.

GILD has been the topic of a number of research reports. Maxim Group set a $84.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Raymond James set a $90.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Citigroup reissued a “buy” rating and issued a $100.00 price objective on shares of Gilead Sciences in a research report on Tuesday, February 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Gilead Sciences in a research report on Thursday, March 7th. Finally, Mizuho reissued a “buy” rating and issued a $88.00 price objective on shares of Gilead Sciences in a research report on Tuesday, February 26th. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Gilead Sciences has a consensus rating of “Buy” and an average price target of $81.00.

Shares of GILD opened at $66.50 on Thursday. The firm has a market cap of $84.81 billion, a P/E ratio of 10.30, a PEG ratio of 0.81 and a beta of 1.14. 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 3.53 and a current ratio of 3.62.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported $1.76 earnings per share for the quarter, topping the Zacks’ 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 firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. On average, analysts predict that Gilead Sciences, Inc. will post 6.6 earnings per share for the current 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 issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.52 dividend on an annualized basis and a yield of 3.79%. Gilead Sciences’s payout ratio is 40.98%.

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Gilead Sciences Company Profile

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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

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