34,701 Shares in Gilead Sciences, Inc. $GILD Purchased by Occidental Asset Management LLC

Key Points

• Occidental Asset Management purchased 34,701 shares of Gilead Sciences during the second quarter, valued at approximately $4.4 million. Institutional investors collectively own 83.67% of the company.
• Gilead reported quarterly revenue of $7.8 billion, exceeding analyst expectations, while earnings of negative $6.75 per share were better than forecasts. Revenue increased 10.6% year over year.
• The company declared a quarterly dividend of $0.82 per share, equivalent to an annualized $3.28 payout and a 2.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $158.04.

Occidental Asset Management LLC purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 34,701 shares of the biopharmaceutical company's stock, valued at approximately $4,384,000.

A number of other institutional investors also recently made changes to their positions in GILD. Vanguard Group Inc. boosted its position in shares of Gilead Sciences by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company's stock valued at $14,863,487,000 after acquiring an additional 2,113,692 shares during the period. State Street Corp raised its stake in Gilead Sciences by 1.9% in the 4th quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company's stock worth $7,393,921,000 after purchasing an additional 1,151,213 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Gilead Sciences by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company's stock valued at $3,399,734,000 after purchasing an additional 1,195,269 shares during the period. Bank of America Corp DE grew its position in shares of Gilead Sciences by 15.2% during the 4th quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company's stock worth $2,837,948,000 after purchasing an additional 3,046,688 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Gilead Sciences during the fourth quarter worth approximately $2,617,152,000. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $138.92 on Tuesday. Gilead Sciences, Inc. has a fifty-two week low of $108.46 and a fifty-two week high of $157.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The firm has a market capitalization of $172.25 billion, a P/E ratio of -52.03 and a beta of 0.32. The company's 50 day moving average price is $130.33 and its two-hundred day moving average price is $136.43.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, topping analysts' consensus estimates of ($7.25) by $0.50. The firm had revenue of $7.80 billion for the quarter, compared to analysts' expectations of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company's revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 earnings per share. On average, equities analysts forecast that Gilead Sciences, Inc. will post -0.53 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.4%. Gilead Sciences's payout ratio is currently -122.85%.

Insider Buying and Selling

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 15,000 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $130.31, for a total value of $1,954,650.00. Following the completion of the transaction, the chief executive officer owned 592,133 shares of the company's stock, valued at $77,160,851.23. This represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $125.40, for a total value of $376,200.00. Following the completion of the transaction, the chief financial officer owned 171,646 shares of the company's stock, valued at $21,524,408.40. This represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 51,000 shares of company stock worth $6,568,860 in the last 90 days. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on GILD. Royal Bank Of Canada raised their price objective on Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Daiwa Securities Group dropped their price target on Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 19th. Barclays cut their price objective on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 29th. Rothschild & Co Redburn reduced their price objective on shares of Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. Finally, Needham & Company LLC restated a "buy" rating and issued a $170.00 target price on shares of Gilead Sciences in a research report on Wednesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $158.04.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

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