Gilead Sciences (NASDAQ:GILD) Director Sells 5,000 Shares of Stock

Key Points

• Director Jeffrey Bluestone sold 5,000 Gilead shares at an average price of $145.02, totaling $725,100. The Rule 10b5-1 transaction reduced his ownership by 33.19% to 10,066 shares.
• Gilead’s stock rose to $146.12, while the company reported quarterly revenue of $7.80 billion—above expectations—and EPS of negative $6.75, better than analysts’ forecast.
• The company declared a quarterly dividend of $0.82 per share, or $3.28 annualized, representing a 2.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $158.04.

Gilead Sciences, Inc. (NASDAQ:GILD - Get Free Report) Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $145.02, for a total value of $725,100.00. Following the sale, the director owned 10,066 shares in the company, valued at approximately $1,459,771.32. This represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gilead Sciences Stock Performance

GILD stock traded up $2.68 on Friday, hitting $146.12. The company had a trading volume of 5,384,252 shares, compared to its average volume of 6,740,629. The stock has a market cap of $181.18 billion, a price-to-earnings ratio of -54.73 and a beta of 0.32. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The stock's 50-day simple moving average is $131.97 and its 200 day simple moving average is $136.59.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) 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 business had revenue of $7.80 billion during the quarter, compared to analysts' expectations of $7.40 billion. During the same period in the prior year, the company earned $2.01 earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that Gilead Sciences, Inc. will post -0.51 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences's payout ratio is currently -122.85%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GILD. Daiwa Securities Group decreased their target price on shares of Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 19th. Wall Street Zen raised shares of Gilead Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Rothschild & Co Redburn cut their price target on shares of Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $155.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $170.00 price objective on shares of Gilead Sciences in a research note on Wednesday, August 5th. Twenty-four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of "Moderate Buy" and an average price target of $158.04.

Hedge Funds Weigh In On Gilead Sciences

Several institutional investors and hedge funds have recently bought and sold shares of GILD. Paulson Wealth Management Inc. lifted its stake in shares of Gilead Sciences by 1.8% during the 4th quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company's stock worth $477,000 after purchasing an additional 67 shares during the period. Essex Financial Services Inc. raised its holdings in shares of Gilead Sciences by 0.9% in the 4th 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. grew its holdings in shares of Gilead Sciences by 4.1% during the 1st quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company's stock worth $262,000 after purchasing an additional 74 shares during the period. Alpha Cubed Investments LLC grew its holdings in shares of Gilead Sciences by 1.1% during the 4th quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company's stock worth $812,000 after purchasing an additional 75 shares during the period. Finally, Venture Visionary Partners LLC increased its position in Gilead Sciences by 1.2% during the 4th quarter. Venture Visionary Partners LLC now owns 6,422 shares of the biopharmaceutical company's stock worth $788,000 after purchasing an additional 76 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

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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