Comerica Bank cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 605,138 shares of the biopharmaceutical company’s stock after selling 70,308 shares during the quarter. Comerica Bank’s holdings in Gilead Sciences were worth $49,198,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GILD. Kovack Advisors Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $2,023,000. First Western Capital Management Co increased its position in shares of Gilead Sciences by 2.6% during the 4th quarter. First Western Capital Management Co now owns 37,548 shares of the biopharmaceutical company’s stock worth $2,690,000 after purchasing an additional 949 shares during the last quarter. Arlington Financial Advisors LLC acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $2,132,000. Harrington Investments INC increased its position in shares of Gilead Sciences by 6.7% during the 4th quarter. Harrington Investments INC now owns 24,320 shares of the biopharmaceutical company’s stock worth $1,742,000 after purchasing an additional 1,536 shares during the last quarter. Finally, CIBC World Markets Inc. increased its position in shares of Gilead Sciences by 1.1% during the 4th quarter. CIBC World Markets Inc. now owns 654,161 shares of the biopharmaceutical company’s stock worth $46,864,000 after purchasing an additional 7,378 shares during the last quarter. 77.96% of the stock is owned by institutional investors and hedge funds.
GILD has been the subject of a number of recent analyst reports. Citigroup raised Gilead Sciences from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $88.80 to $76.00 in a research report on Tuesday, January 30th. Royal Bank of Canada reissued a “buy” rating and set a $94.00 price objective on shares of Gilead Sciences in a research report on Friday, February 23rd. BMO Capital Markets raised their price objective on Gilead Sciences from $86.00 to $88.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Vetr downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $90.00 price objective for the company. in a research report on Wednesday, January 17th. Finally, Credit Suisse Group downgraded Gilead Sciences from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $74.35 to $80.00 in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Gilead Sciences presently has a consensus rating of “Buy” and a consensus price target of $87.75.
Gilead Sciences, Inc. (NASDAQ:GILD) opened at $81.06 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.74 and a quick ratio of 2.67. The stock has a market capitalization of $105,740.62, a PE ratio of 9.45, a PEG ratio of -1.86 and a beta of 1.24. Gilead Sciences, Inc. has a 52 week low of $63.76 and a 52 week high of $89.54.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.11. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Gilead Sciences had a return on equity of 50.29% and a net margin of 17.73%. The business’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.70 EPS. sell-side analysts expect that Gilead Sciences, Inc. will post 6.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, March 15th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.52. Gilead Sciences’s dividend payout ratio (DPR) is presently 59.77%.
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About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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