Gilead Sciences Inc. (GILD) Position Cut by Essex Investment Management Co. LLC
Essex Investment Management Co. LLC cut its stake in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 109,998 shares of the biopharmaceutical company’s stock after selling 244 shares during the period. Gilead Sciences accounts for about 1.5% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 14th largest position. Essex Investment Management Co. LLC’s holdings in Gilead Sciences were worth $9,176,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of GILD. Bank of Montreal Can bought a new stake in shares of Gilead Sciences during the second quarter valued at $427,750,000. Investec Asset Management LTD bought a new stake in shares of Gilead Sciences during the first quarter valued at $280,342,000. NN Investment Partners Holdings N.V. bought a new stake in shares of Gilead Sciences during the first quarter valued at $180,268,000. Temasek Holdings Private Ltd increased its stake in shares of Gilead Sciences by 8.1% in the first quarter. Temasek Holdings Private Ltd now owns 13,830,516 shares of the biopharmaceutical company’s stock valued at $1,270,471,000 after buying an additional 1,035,592 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Gilead Sciences by 256.3% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,156,623 shares of the biopharmaceutical company’s stock valued at $96,485,000 after buying an additional 832,028 shares during the period. Hedge funds and other institutional investors own 77.93% of the company’s stock.
Shares of Gilead Sciences Inc. (NASDAQ:GILD) traded down 1.07% on Wednesday, hitting $73.03. The company’s stock had a trading volume of 9,981,504 shares. The stock has a market capitalization of $96.37 billion, a P/E ratio of 6.41 and a beta of 1.10. The stock’s 50 day moving average price is $78.59 and its 200 day moving average price is $84.75. Gilead Sciences Inc. has a 52 week low of $72.92 and a 52 week high of $111.11.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.06. The firm earned $7.78 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. Gilead Sciences’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.15 earnings per share. On average, analysts forecast that Gilead Sciences Inc. will post $11.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is presently 16.56%.
Several equities research analysts have weighed in on the company. Piper Jaffray Cos. set a $108.00 price target on Gilead Sciences and gave the stock a “buy” rating in a report on Sunday, August 21st. Jefferies Group restated a “hold” rating and set a $97.00 price target on shares of Gilead Sciences in a report on Friday, July 15th. Argus downgraded Gilead Sciences from a “buy” rating to a “hold” rating and cut their price target for the stock from $88.00 to $81.00 in a report on Friday, July 29th. RBC Capital Markets reaffirmed an “outperform” rating and set a $105.00 price objective (down from $120.00) on shares of Gilead Sciences in a research report on Tuesday, July 26th. Finally, Barclays PLC reaffirmed an “overweight” rating on shares of Gilead Sciences in a research report on Thursday, July 28th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $104.71.
In other news, insider John C. Martin sold 100,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $77.63, for a total transaction of $7,763,000.00. Following the completion of the transaction, the insider now owns 3,231,096 shares of the company’s stock, valued at $250,829,982.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul Rutherford Carter sold 2,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $79.81, for a total transaction of $159,620.00. Following the transaction, the executive vice president now directly owns 64,122 shares of the company’s stock, valued at approximately $5,117,576.82. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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