Advisors Capital Management LLC Takes Position in Gilead Sciences, Inc. $GILD

Advisors Capital Management LLC bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 31,697 shares of the biopharmaceutical company's stock, valued at approximately $4,005,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Paulson Wealth Management Inc. boosted its stake in Gilead Sciences by 1.8% during the fourth quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company's stock worth $477,000 after buying an additional 67 shares in the last quarter. Essex Financial Services Inc. lifted its stake in Gilead Sciences by 0.9% during the fourth quarter. Essex Financial Services Inc. now owns 7,724 shares of the biopharmaceutical company's stock worth $948,000 after purchasing an additional 71 shares during the period. Davidson Trust Co. boosted its holdings in Gilead Sciences by 4.1% during the first quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company's stock valued at $262,000 after purchasing an additional 74 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in shares of Gilead Sciences by 1.1% in the 4th quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company's stock valued at $812,000 after purchasing an additional 75 shares during the period. Finally, Financial Connections Group Inc. grew its stake in shares of Gilead Sciences by 30.2% in the 1st quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Trading Up 1.9%

GILD opened at $146.12 on Friday. The firm's fifty day moving average is $131.97 and its two-hundred day moving average is $136.59. The firm has a market cap of $181.18 billion, a PE ratio of -54.73 and a beta of 0.32. Gilead Sciences, Inc. has a twelve month low of $108.46 and a twelve month high of $157.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same quarter in the previous year, the business earned $2.01 EPS. The firm's revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Gilead Sciences, Inc. will post -0.51 EPS for the current year.

Gilead Sciences Announces Dividend

The firm 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 $0.82 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. Gilead Sciences's payout ratio is currently -122.85%.

Analysts Set New Price Targets

Several equities analysts have issued reports on GILD shares. HSBC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price objective for the company from $133.00 to $155.00 in a research report on Monday, July 6th. Royal Bank Of Canada raised their target price on Gilead Sciences from $120.00 to $123.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Daiwa Securities Group lowered their price objective on shares of Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday, May 19th. Weiss Ratings downgraded shares of Gilead Sciences from a "buy (b-)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley reduced their target price on shares of Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating on the stock in a research report on Monday, July 27th. Twenty-four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $158.04.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 3,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $138.36, for a total transaction of $415,080.00. Following the completion of the transaction, the chief financial officer directly owned 165,646 shares in the company, valued at approximately $22,918,780.56. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the completion of the sale, the insider directly owned 118,234 shares in the company, valued at approximately $16,273,727.76. This represents a 19.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,000 shares of company stock worth $11,562,960 over the last three months. 0.30% of the stock is currently owned by insiders.

About Gilead Sciences

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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