Standard Life Investments LTD Sells 907,106 Shares of Gilead Sciences Inc. (GILD)
Standard Life Investments LTD lowered its stake in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 40.2% during the second quarter, Holdings Channel reports. The firm owned 1,350,183 shares of the biopharmaceutical company’s stock after selling 907,106 shares during the period. Standard Life Investments LTD’s holdings in Gilead Sciences were worth $112,619,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in GILD. Bank of Montreal Can purchased a new position in shares of Gilead Sciences during the second quarter valued at approximately $427,750,000. Investec Asset Management LTD purchased a new position in shares of Gilead Sciences during the first quarter valued at approximately $280,342,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Gilead Sciences during the first quarter valued at approximately $180,268,000. Temasek Holdings Private Ltd raised its position 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. raised its position 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 0.42% during midday trading on Friday, hitting $72.75. The stock had a trading volume of 7,359,055 shares. The firm has a 50 day moving average price of $77.93 and a 200-day moving average price of $84.45. The stock has a market cap of $96.01 billion, a PE ratio of 6.38 and a beta of 1.10. Gilead Sciences Inc. has a 52-week low of $72.21 and a 52-week high of $111.11.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.06. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The business had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same period in the prior year, the company posted $3.15 EPS. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities analysts predict that Gilead Sciences Inc. will post $11.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Wednesday, September 14th. Gilead Sciences’s payout ratio is currently 16.56%.
Several equities research analysts recently weighed in on GILD shares. Leerink Swann restated a “buy” rating and set a $120.00 target price on shares of Gilead Sciences in a report on Tuesday, June 21st. Zacks Investment Research upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Jefferies Group restated a “hold” rating and set a $96.00 target price on shares of Gilead Sciences in a report on Wednesday, June 29th. BMO Capital Markets restated an “outperform” rating and set a $97.00 target price on shares of Gilead Sciences in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $120.00 target price on shares of Gilead Sciences in a report on Wednesday, June 29th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $103.78.
In other news, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $81.84, for a total transaction of $409,200.00. Following the sale, the executive vice president now directly owns 132,964 shares of the company’s stock, valued at approximately $10,881,773.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John C. Martin sold 100,000 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $77.63, for a total transaction of $7,763,000.00. Following the sale, the insider now directly owns 3,231,096 shares in the company, valued at $250,829,982.48. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
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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