Corient Private Wealth LP Makes New Investment in Gilead Sciences, Inc. $GILD

Corient Private Wealth LP bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,481,332 shares of the biopharmaceutical company's stock, valued at approximately $74,088,000. Corient Private Wealth LP owned approximately 0.20% of Gilead Sciences as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Aviva PLC raised its holdings in shares of Gilead Sciences by 5.4% during the fourth quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company's stock worth $141,978,000 after purchasing an additional 59,782 shares during the period. Life Cycle Investment Partners Ltd acquired a new position in shares of Gilead Sciences in the 4th quarter valued at about $1,418,000. Bank of Nova Scotia acquired a new position in shares of Gilead Sciences in the 2nd quarter valued at about $100,056,000. Harvest Fund Management Co. Ltd grew its position in shares of Gilead Sciences by 14.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 106,526 shares of the biopharmaceutical company's stock valued at $13,075,000 after buying an additional 13,385 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at about $55,754,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GILD. Morgan Stanley cut their target price on shares of Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating on the stock in a report on Monday, July 27th. Weiss Ratings lowered Gilead Sciences from a "buy (b-)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Gilead Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Leerink Partners downgraded Gilead Sciences from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $146.00 to $127.00 in a report on Tuesday, July 21st. Finally, Rothschild & Co Redburn reduced their price objective on Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $158.04.

Gilead Sciences Trading Down 0.5%

Gilead Sciences stock opened at $148.09 on Thursday. Gilead Sciences, Inc. has a 52-week low of $108.46 and a 52-week high of $157.29. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $183.62 billion, a price-to-earnings ratio of -55.46 and a beta of 0.32. The firm has a 50-day moving average price of $133.31 and a two-hundred day moving average price of $136.58.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate of ($7.25) by $0.50. The company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. Gilead Sciences's revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 earnings per share. Sell-side analysts expect that Gilead Sciences, Inc. will post -0.5 earnings per share for the current year.

Gilead Sciences Dividend Announcement

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

Insiders Place Their Bets

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the sale, the director owned 10,066 shares of the company's stock, valued at $1,459,771.32. The trade was a 33.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business's stock in a transaction 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. Insiders have sold 87,000 shares of company stock valued at $11,562,960 in the last quarter. 0.30% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source