Hermes Investment Management Ltd. grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,816 shares of the biopharmaceutical company’s stock after purchasing an additional 2,091 shares during the quarter. Hermes Investment Management Ltd.’s holdings in Gilead Sciences were worth $1,687,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of GILD. Contrarius Investment Management Ltd lifted its stake in shares of Gilead Sciences by 2,630.1% in the first quarter. Contrarius Investment Management Ltd now owns 904,865 shares of the biopharmaceutical company’s stock worth $61,458,000 after acquiring an additional 871,721 shares in the last quarter. Heritage Trust Co acquired a new position in shares of Gilead Sciences in the first quarter worth about $3,589,000. Pitcairn Co. lifted its stake in shares of Gilead Sciences by 37.1% in the first quarter. Pitcairn Co. now owns 19,231 shares of the biopharmaceutical company’s stock worth $1,306,000 after acquiring an additional 5,207 shares in the last quarter. Bienville Capital Management LLC acquired a new position in shares of Gilead Sciences in the first quarter worth about $570,000. Finally, Norinchukin Bank The lifted its stake in shares of Gilead Sciences by 4.2% in the first quarter. Norinchukin Bank The now owns 174,400 shares of the biopharmaceutical company’s stock worth $11,845,000 after acquiring an additional 7,070 shares in the last quarter. Institutional investors own 76.23% of the company’s stock.
Several research analysts recently commented on GILD shares. BMO Capital Markets reiterated a “hold” rating and issued a $82.00 price target on shares of Gilead Sciences in a research note on Friday, October 20th. J P Morgan Chase & Co set a $85.00 price target on Gilead Sciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Monday, August 28th. Vetr upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $89.27 price target on the stock in a research note on Wednesday, September 6th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $83.00 price target (up previously from $77.00) on shares of Gilead Sciences in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $85.11.
In other news, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $82.56, for a total transaction of $6,054,372.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregg H. Alton sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $82.65, for a total value of $2,066,250.00. The disclosure for this sale can be found here. Insiders have sold 494,999 shares of company stock valued at $37,404,139 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) opened at $75.57 on Friday. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $86.27. The stock has a market capitalization of $97,108.04, a P/E ratio of 7.76, a price-to-earnings-growth ratio of -1.25 and a beta of 1.13. The company has a current ratio of 3.68, a quick ratio of 3.56 and a debt-to-equity ratio of 1.10.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The firm had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. Gilead Sciences’s revenue for the quarter was down 13.2% compared to the same quarter last year. equities research analysts expect that Gilead Sciences, Inc. will post 8.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, December 14th. Gilead Sciences’s payout ratio is currently 23.69%.
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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.
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