Freestone Capital Holdings LLC Sells 149,581 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Freestone Capital Holdings LLC trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 62.9% during the second quarter, Holdings Channel.com reports. The fund owned 88,126 shares of the biopharmaceutical company’s stock after selling 149,581 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Gilead Sciences were worth $5,954,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Buckingham Asset Management LLC grew its stake in Gilead Sciences by 2.4% during the second quarter. Buckingham Asset Management LLC now owns 45,430 shares of the biopharmaceutical company’s stock worth $3,069,000 after buying an additional 1,053 shares in the last quarter. Cpwm LLC grew its stake in Gilead Sciences by 122.5% during the second quarter. Cpwm LLC now owns 29,456 shares of the biopharmaceutical company’s stock worth $1,990,000 after buying an additional 16,219 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Gilead Sciences by 10.3% during the second quarter. Cornerstone Wealth Management LLC now owns 4,788 shares of the biopharmaceutical company’s stock worth $324,000 after buying an additional 448 shares in the last quarter. Financial Sense Advisors Inc. acquired a new stake in Gilead Sciences during the second quarter worth about $203,000. Finally, McKinley Carter Wealth Services Inc. grew its stake in Gilead Sciences by 6.0% during the second quarter. McKinley Carter Wealth Services Inc. now owns 3,699 shares of the biopharmaceutical company’s stock worth $250,000 after buying an additional 209 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on GILD shares. Mizuho set a $88.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Monday, July 15th. BidaskClub downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, June 5th. Wells Fargo & Co upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $68.00 to $88.00 in a research note on Monday, July 15th. Royal Bank of Canada upgraded shares of Gilead Sciences from an “outperform” rating to a “top pick” rating and set a $91.00 price target on the stock in a research note on Monday, July 29th. Finally, Cowen restated a “buy” rating on shares of Gilead Sciences in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $82.29.

In related news, EVP Brett A. Pletcher sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $65.07, for a total value of $468,504.00. Following the completion of the transaction, the executive vice president now owns 34,398 shares in the company, valued at approximately $2,238,277.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Brett A. Pletcher sold 5,816 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $68.75, for a total transaction of $399,850.00. Following the completion of the transaction, the executive vice president now owns 27,198 shares of the company’s stock, valued at approximately $1,869,862.50. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Shares of GILD traded up $1.12 during mid-day trading on Monday, reaching $64.26. The company had a trading volume of 221,853 shares, compared to its average volume of 6,297,219. The company’s 50 day simple moving average is $66.16 and its 200 day simple moving average is $65.90. The company has a market capitalization of $79.62 billion, a price-to-earnings ratio of 10.44, a P/E/G ratio of 2.98 and a beta of 1.16. Gilead Sciences, Inc. has a 1-year low of $60.32 and a 1-year high of $79.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 3.67 and a current ratio of 3.76.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. The business had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.54 billion. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $1.91 EPS. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 6.65 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.63 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.52 dividend on an annualized basis and a yield of 3.92%. Gilead Sciences’s dividend payout ratio (DPR) is presently 40.98%.

About Gilead Sciences

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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