Hamlin Capital Management LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Hamlin Capital Management LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, HoldingsChannel.com reports. The firm acquired 391,970 shares of the biopharmaceutical company’s stock, valued at approximately $26,481,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Gilead Sciences by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,129,197 shares of the biopharmaceutical company’s stock valued at $320,822,000 after purchasing an additional 51,905 shares during the period. Geode Capital Management LLC raised its position in shares of Gilead Sciences by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 16,867,065 shares of the biopharmaceutical company’s stock worth $1,053,332,000 after buying an additional 835,915 shares in the last quarter. PFG Advisors bought a new stake in shares of Gilead Sciences in the 4th quarter worth approximately $468,000. Nordea Investment Management AB raised its holdings in shares of Gilead Sciences by 14.1% in the 4th quarter. Nordea Investment Management AB now owns 1,026,174 shares of the biopharmaceutical company’s stock worth $64,186,000 after purchasing an additional 127,140 shares in the last quarter. Finally, Surevest Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter worth approximately $326,000. 78.85% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Brett A. Pletcher sold 7,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $65.07, for a total transaction of $468,504.00. Following the sale, the executive vice president now owns 34,398 shares in the company, valued at $2,238,277.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brett A. Pletcher sold 5,816 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $68.75, for a total transaction of $399,850.00. Following the sale, the executive vice president now owns 27,198 shares in the company, valued at approximately $1,869,862.50. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

GILD has been the topic of a number of research reports. UBS Group upgraded shares of Gilead Sciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $77.00 in a report on Wednesday, April 10th. Wells Fargo & Co upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $68.00 to $88.00 in a report on Monday, July 15th. Royal Bank of Canada upgraded shares of Gilead Sciences from an “outperform” rating to a “top pick” rating and set a $91.00 target price on the stock in a report on Monday. Cantor Fitzgerald set a $88.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Credit Suisse Group dropped their target price on shares of Gilead Sciences from $70.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Gilead Sciences has an average rating of “Buy” and a consensus price target of $82.29.

GILD stock opened at $65.47 on Friday. Gilead Sciences, Inc. has a 52-week low of $60.32 and a 52-week high of $79.61. The company’s 50 day moving average price is $67.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.62 and a quick ratio of 3.53. The firm has a market capitalization of $85.53 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 4.06 and a beta of 1.12.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.14. Gilead Sciences had a net margin of 26.40% and a return on equity of 37.98%. The business had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Gilead Sciences, Inc. will post 6.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.85%. Gilead Sciences’s dividend payout ratio is currently 40.98%.

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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