Grandfield & Dodd LLC Increases Stake in Gilead Sciences Inc. (GILD)
Grandfield & Dodd LLC raised its position in Gilead Sciences Inc. (NASDAQ:GILD) by 8.6% during the second quarter, Holdings Channel reports. The fund owned 8,561 shares of the biopharmaceutical company’s stock after buying an additional 675 shares during the period. Grandfield & Dodd LLC’s holdings in Gilead Sciences were worth $714,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Temasek Holdings Private Ltd raised its stake in 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 in the last quarter. Geode Capital Management LLC raised its stake in Gilead Sciences by 1.3% in the first quarter. Geode Capital Management LLC now owns 12,410,846 shares of the biopharmaceutical company’s stock valued at $1,137,969,000 after buying an additional 161,505 shares in the last quarter. Bank of Montreal Can purchased a new stake in Gilead Sciences during the second quarter valued at about $427,750,000. Canada Pension Plan Investment Board raised its stake in Gilead Sciences by 15.6% in the first quarter. Canada Pension Plan Investment Board now owns 4,955,996 shares of the biopharmaceutical company’s stock valued at $455,258,000 after buying an additional 669,800 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Gilead Sciences by 12.0% in the first quarter. Prudential Financial Inc. now owns 3,816,408 shares of the biopharmaceutical company’s stock valued at $350,575,000 after buying an additional 410,120 shares in the last quarter. Hedge funds and other institutional investors own 78.00% of the company’s stock.
Shares of Gilead Sciences Inc. (NASDAQ:GILD) traded down 0.15% during mid-day trading on Monday, reaching $72.64. 8,181,411 shares of the company’s stock traded hands. The stock has a market cap of $95.86 billion, a price-to-earnings ratio of 6.38 and a beta of 1.10. The firm’s 50 day moving average price is $77.72 and its 200-day moving average price is $84.20. Gilead Sciences Inc. has a 12-month low of $72.21 and a 12-month high of $111.11.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.06. The company earned $7.78 billion during the quarter, compared to analyst estimates of $7.80 billion. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. Gilead Sciences’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business earned $3.15 EPS. Equities research analysts forecast that Gilead Sciences Inc. will post $11.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were paid a $0.47 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $1.88 annualized dividend and a dividend yield of 2.59%. Gilead Sciences’s payout ratio is 16.56%.
Several analysts recently issued reports on the stock. Piper Jaffray Cos. set a $108.00 price target on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Sunday, August 21st. Cowen and Company restated an “outperform” rating and issued a $120.00 target price on shares of Gilead Sciences in a research report on Monday. Jefferies Group restated a “hold” rating and issued a $97.00 target price on shares of Gilead Sciences in a research report on Friday, July 15th. Argus lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating and cut their target price for the company from $88.00 to $81.00 in a research report on Friday, July 29th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $105.00 target price (down previously from $120.00) on shares of Gilead Sciences in a research report on Tuesday, July 26th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Gilead Sciences has a consensus rating of “Buy” and an average target price of $103.60.
In related news, insider John C. Martin sold 100,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $80.50, for a total value of $8,050,000.00. Following the completion of the transaction, the insider now directly owns 4,119,727 shares in the company, valued at approximately $331,638,023.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $81.84, for a total transaction of $409,200.00. Following the completion of the transaction, the executive vice president now owns 132,964 shares of the company’s stock, valued at $10,881,773.76. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
About Gilead Sciences
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.
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).
Receive News & Ratings for Gilead Sciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.