Ancora Advisors LLC Sells 9,072 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Ancora Advisors reduced its Gilead Sciences stake by 6.9%, selling 9,072 shares and retaining 121,465 shares valued at approximately $15.3 million. Institutional investors collectively own 83.67% of Gilead’s stock.
• Gilead reported quarterly revenue of $7.8 billion, exceeding estimates of $7.4 billion, while adjusted EPS of negative $6.75 beat expectations. Revenue increased 10.6% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $158.04. Gilead also declared a quarterly dividend of $0.82 per share, implying a 2.2% annual yield.

Ancora Advisors LLC lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,465 shares of the biopharmaceutical company's stock after selling 9,072 shares during the period. Ancora Advisors LLC's holdings in Gilead Sciences were worth $15,346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Gilead Sciences in the second quarter worth $15,393,785,000. Norges Bank acquired a new stake in shares of Gilead Sciences in the fourth quarter worth about $2,617,152,000. Legal & General Group Plc bought a new stake in Gilead Sciences during the second quarter worth approximately $1,316,606,000. Deutsche Bank AG acquired a new position in Gilead Sciences in the 2nd quarter valued at $918,387,000. Finally, Boston Partners bought a new position in shares of Gilead Sciences in the fourth quarter worth about $517,808,000. Institutional investors own 83.67% of the company's stock.

Insider Activity

In other news, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the transaction, the director directly owned 10,066 shares of the company's stock, valued at approximately $1,459,771.32. This represents a 33.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $138.36, for a total value of $415,080.00. Following the transaction, the chief financial officer owned 165,646 shares of the company's stock, valued at $22,918,780.56. This trade represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 90,000 shares of company stock valued at $12,266,220. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on GILD shares. Morgan Stanley cut their price target on Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Royal Bank Of Canada raised their price objective on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Rothschild & Co Redburn dropped their target price on shares of Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, Weiss Ratings downgraded shares of Gilead Sciences from a "buy (b-)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Twenty-four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $158.04.

Gilead Sciences Trading Up 0.5%

Shares of Gilead Sciences stock opened at $146.34 on Tuesday. The firm has a market capitalization of $181.46 billion, a PE ratio of -54.81 and a beta of 0.32. 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 company's fifty day moving average price is $134.68 and its two-hundred day moving average price is $136.50. Gilead Sciences, Inc. has a 52-week low of $108.46 and a 52-week high of $157.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $7.40 billion. During the same quarter in the prior year, the company posted $2.01 EPS. The business's revenue was up 10.6% on a year-over-year basis. On average, analysts expect that Gilead Sciences, Inc. will post -0.5 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid 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 2.2%. Gilead Sciences's dividend payout ratio (DPR) is currently -122.85%.

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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