Kornitzer Capital Management Inc. KS Has $17.18 Million Position in Gilead Sciences, Inc. (GILD)

Kornitzer Capital Management Inc. KS lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 21.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,776 shares of the biopharmaceutical company’s stock after buying an additional 42,555 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Gilead Sciences were worth $17,184,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GILD. Harel Insurance Investments & Financial Services Ltd. boosted its position in Gilead Sciences by 583.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 1,400 shares during the last quarter. Dubuque Bank & Trust Co. boosted its position in Gilead Sciences by 19.4% in the first quarter. Dubuque Bank & Trust Co. now owns 1,642 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 267 shares during the last quarter. Penserra Capital Management LLC boosted its position in Gilead Sciences by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 144 shares during the last quarter. Webster Bank N. A. boosted its position in Gilead Sciences by 51.7% in the first quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock worth $125,000 after purchasing an additional 624 shares during the last quarter. Finally, American Beacon Advisors Inc. purchased a new position in Gilead Sciences in the first quarter worth $143,000. 73.97% of the stock is currently owned by institutional investors.

GILD has been the topic of several research analyst reports. TheStreet raised Gilead Sciences from a “c+” rating to a “b-” rating in a research report on Thursday, September 7th. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 price objective on shares of Gilead Sciences in a research report on Tuesday, July 4th. Vetr cut Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $75.40 price objective on the stock. in a research report on Wednesday, June 21st. Deutsche Bank AG initiated coverage on Gilead Sciences in a research report on Friday, June 23rd. They issued a “buy” rating and a $79.00 price objective on the stock. Finally, Zacks Investment Research raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Monday, July 17th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $84.29.

In other news, EVP Gregg H. Alton sold 5,000 shares of Gilead Sciences stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $71.06, for a total value of $355,300.00. Following the sale, the executive vice president now directly owns 102,988 shares of the company’s stock, valued at $7,318,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg H. Alton sold 40,000 shares of Gilead Sciences stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $74.00, for a total value of $2,960,000.00. Following the completion of the sale, the executive vice president now directly owns 137,488 shares in the company, valued at $10,174,112. The disclosure for this sale can be found here. Insiders sold 466,819 shares of company stock worth $36,740,240 over the last ninety days. Insiders own 1.30% of the company’s stock.

Gilead Sciences, Inc. (NASDAQ GILD) opened at 83.27 on Friday. The stock has a 50 day moving average price of $77.54 and a 200-day moving average price of $70.38. Gilead Sciences, Inc. has a 12-month low of $63.76 and a 12-month high of $86.27. The stock has a market capitalization of $108.74 billion, a PE ratio of 9.04 and a beta of 1.19.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. The business’s revenue was down 8.2% compared to the same quarter last year. On average, equities analysts anticipate that Gilead Sciences, Inc. will post $8.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be issued a $0.52 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.50%. Gilead Sciences’s dividend payout ratio (DPR) is 22.58%.

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Gilead Sciences Company Profile

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.

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

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