Advisors Capital Management LLC Takes Position in Gilead Sciences, Inc. $GILD

Advisors Capital Management LLC bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 31,697 shares of the biopharmaceutical company’s stock, valued at approximately $4,005,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Paulson Wealth Management Inc. boosted its stake in Gilead Sciences by 1.8% during the fourth quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company's stock worth $477,000 after buying an additional 67 shares in the last quarter. Essex Financial Services Inc. lifted its stake in Gilead Sciences by 0.9% during the fourth 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. boosted its holdings in Gilead Sciences by 4.1% during the first quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company's stock valued at $262,000 after purchasing an additional 74 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in shares of Gilead Sciences by 1.1% in the 4th quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company's stock valued at $812,000 after purchasing an additional 75 shares during the period. Finally, Financial Connections Group Inc. grew its stake in shares of Gilead Sciences by 30.2% in the 1st quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 76 shares during the period.

Institutional investors and hedge funds own 83.67% of the company's stock.

GILD opened at $146.12 on Friday. The firm's fifty day moving average is $131.97 and its two-hundred day moving average is $136.59. The firm has a market cap of $181.18 billion, a PE ratio of -54.73 and a beta of 0.32. Gilead Sciences, Inc. has a twelve month low of $108.46 and a twelve month 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.

Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same quarter in the previous year, the business earned $2.01 EPS. The firm's revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Gilead Sciences, Inc. will post -0.51 EPS for the current year.

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

Several equities analysts have issued reports on GILD shares. HSBC upgraded Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price objective for the company from $133.00 to $155.00 in a research report on Monday, J...