Quantbot Technologies LP purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,342 shares of the biopharmaceutical company's stock, valued at approximately $1,433,000.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Gilead Sciences in the 2nd quarter valued at approximately $15,393,785,000. State Street Corp raised its holdings in shares of Gilead Sciences by 1.9% in the fourth quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company's stock valued at $7,393,921,000 after purchasing an additional 1,151,213 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Gilead Sciences by 4.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company's stock worth $3,399,734,000 after purchasing an additional 1,195,269 shares in the last quarter. Bank of America Corp DE boosted its holdings in Gilead Sciences by 15.2% during the fourth quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company's stock worth $2,837,948,000 after purchasing an additional 3,046,688 shares during the last quarter. Finally, Norges Bank bought a new position in Gilead Sciences in the fourth quarter valued at $2,617,152,000. 83.67% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Daiwa Securities Group cut their price target 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. Morgan Stanley decreased their price objective on Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 target price on shares of Gilead Sciences in a research report on Wednesday, August 5th. Truist Financial dropped their target price on Gilead Sciences from $157.00 to $156.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Finally, Rothschild & Co Redburn decreased their price target on Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. Twenty-four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.04.
Get Our Latest Research Report on GILD
Gilead Sciences Stock Performance
Shares of GILD opened at $148.77 on Wednesday. The company has a market cap of $184.47 billion, a PE ratio of -55.72 and a beta of 0.32. The firm has a 50-day moving average of $132.85 and a 200-day moving average of $136.59. Gilead Sciences, Inc. has a one year low of $108.46 and a one year high of $157.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (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 company had revenue of $7.80 billion for the quarter, compared to analysts' expectations of $7.40 billion. During the same period in the prior year, the firm earned $2.01 EPS. Gilead Sciences's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts forecast that Gilead Sciences, Inc. will post -0.5 earnings per share for the current year.
Gilead Sciences Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences's payout ratio is currently -122.85%.
Insiders Place Their Bets
In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the completion of the sale, the director owned 10,066 shares of the company's stock, valued at $1,459,771.32. This trade represents a 33.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction on Monday, August 17th. The stock was sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the transaction, the insider directly owned 118,234 shares of the company's stock, valued at approximately $16,273,727.76. This trade represents a 19.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 87,000 shares of company stock worth $11,562,960 in the last quarter. Insiders own 0.30% of the company's stock.
Gilead Sciences Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).
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