Parallax Volatility Advisers L.P. Trims Holdings in Gilead Sciences, Inc. $GILD

Parallax Volatility Advisers L.P. lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 72.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,057 shares of the biopharmaceutical company's stock after selling 21,313 shares during the period. Parallax Volatility Advisers L.P.'s holdings in Gilead Sciences were worth $1,018,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Gilead Sciences during the fourth quarter worth about $25,000. Persistent Asset Partners Ltd acquired a new position in shares of Gilead Sciences in the second quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC increased its stake in Gilead Sciences by 71.4% during 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 period. Quattro Advisors LLC purchased a new stake in Gilead Sciences during the 4th quarter worth approximately $26,000. Finally, Wealth Preservation Advisors LLC lifted its holdings in Gilead Sciences by 60.0% during the 4th 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. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the transaction, the insider directly owned 118,234 shares of the company's stock, valued at approximately $16,273,727.76. This trade represents a 19.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Gilead Sciences stock in a transaction on Monday, August 17th. The shares were 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 owned 165,646 shares in the company, valued at approximately $22,918,780.56. This represents a 1.78% decrease in their ownership of the stock. 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 have sold 87,000 shares of company stock worth $11,562,960 in the last quarter. 0.30% of the stock is currently owned by company insiders.

Gilead Sciences Stock Down 0.5%

GILD opened at $148.09 on Thursday. Gilead Sciences, Inc. has a one year low of $108.46 and a one year 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. The stock has a market capitalization of $183.62 billion, a P/E ratio of -55.46 and a beta of 0.32. The business's 50-day simple moving average is $133.31 and its 200-day simple moving average is $136.58.

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

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis 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%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GILD shares. Barclays cut their price objective on Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen upgraded Gilead Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Rothschild & Co Redburn cut their target price on shares of Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. 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, Royal Bank Of Canada raised their price objective on shares of Gilead Sciences from $120.00 to $123.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. Twenty-four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $158.04.

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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