Corient Private Wealth LP Purchases 1,859,008 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Corient Private Wealth LP increased its Gilead Sciences position by 300.1% in the second quarter, purchasing 1,859,008 additional shares for a total holding of 2.48 million shares valued at approximately $313.1 million.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating from 29 analysts and an average price target of $158.04, above the reported share price of $148.09.
• Gilead beat quarterly earnings and revenue expectations, reporting revenue of $7.8 billion, while announcing a quarterly dividend of $0.82 per share, representing a 2.2% annualized yield.

Corient Private Wealth LP raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 300.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,478,397 shares of the biopharmaceutical company's stock after purchasing an additional 1,859,008 shares during the period. Corient Private Wealth LP owned approximately 0.20% of Gilead Sciences worth $313,121,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences during the 4th quarter valued at about $25,000. Persistent Asset Partners Ltd purchased a new position in shares of Gilead Sciences during the 2nd quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC lifted its position in Gilead Sciences by 71.4% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 85 shares during the last quarter. Quattro Advisors LLC bought a new stake in Gilead Sciences in the 4th quarter worth approximately $26,000. Finally, Wealth Preservation Advisors LLC boosted its stake in Gilead Sciences by 60.0% in the fourth quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 81 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 3,000 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $138.36, for a total value of $415,080.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O'day sold 15,000 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the completion of the transaction, the chief executive officer owned 592,133 shares in the company, valued at $77,160,851.23. The trade was a 2.47% 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 sold 87,000 shares of company stock valued at $11,562,960 in the last three months. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of recent research reports. Rothschild & Co Redburn reduced their price target on shares of Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. HSBC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $133.00 to $155.00 in a report on Monday, July 6th. Wall Street Zen raised shares of Gilead Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. 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 report on Monday, July 27th. Finally, Royal Bank Of Canada lifted their target price on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. Twenty-four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.04.

Gilead Sciences Price Performance

GILD opened at $148.09 on Thursday. 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 stock's 50 day simple moving average is $133.31 and its 200 day simple moving average is $136.58. The firm has a market cap of $183.62 billion, a price-to-earnings ratio of -55.46 and a beta of 0.32. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year 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 for the quarter, beating the consensus estimate of ($7.25) by $0.50. The firm had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business's revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.01 earnings per share. As a group, analysts predict that Gilead Sciences, Inc. will post -0.5 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences's payout ratio is presently -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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