Sfmg LLC Increases Stake in Gilead Sciences, Inc. (GILD)
Sfmg LLC boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 81.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,949 shares of the biopharmaceutical company’s stock after buying an additional 8,500 shares during the period. Sfmg LLC’s holdings in Gilead Sciences were worth $1,499,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Gilead Sciences by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 26,786,930 shares of the biopharmaceutical company’s stock worth $2,119,382,000 after buying an additional 169,701 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Gilead Sciences by 6.8% in the third quarter. BlackRock Fund Advisors now owns 26,032,555 shares of the biopharmaceutical company’s stock worth $2,059,696,000 after buying an additional 1,663,268 shares in the last quarter. Parnassus Investments CA increased its position in shares of Gilead Sciences by 27.5% in the third quarter. Parnassus Investments CA now owns 10,790,358 shares of the biopharmaceutical company’s stock worth $853,733,000 after buying an additional 2,329,874 shares in the last quarter. Boston Partners increased its position in shares of Gilead Sciences by 51.7% in the third quarter. Boston Partners now owns 9,855,682 shares of the biopharmaceutical company’s stock worth $779,781,000 after buying an additional 3,358,289 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Gilead Sciences by 13.3% in the third quarter. Canada Pension Plan Investment Board now owns 7,209,754 shares of the biopharmaceutical company’s stock worth $570,436,000 after buying an additional 847,100 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) opened at 70.31 on Friday. The firm has a market capitalization of $92.11 billion, a PE ratio of 7.07 and a beta of 1.11. The company has a 50 day moving average of $71.76 and a 200 day moving average of $75.36. Gilead Sciences, Inc. has a 52-week low of $65.38 and a 52-week high of $103.10.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 7th. The biopharmaceutical company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.09. The business earned $7.30 billion during the quarter, compared to the consensus estimate of $7.16 billion. Gilead Sciences had a net margin of 44.43% and a return on equity of 92.36%. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.32 earnings per share. On average, analysts anticipate that Gilead Sciences, Inc. will post $8.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.08 annualized dividend and a yield of 2.96%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.47. Gilead Sciences’s dividend payout ratio is presently 18.91%.
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A number of brokerages have recently issued reports on GILD. Jefferies Group LLC reiterated a “buy” rating and issued a $91.00 price target on shares of Gilead Sciences in a report on Wednesday, January 4th. Stifel Nicolaus began coverage on shares of Gilead Sciences in a report on Monday, November 14th. They issued a “buy” rating and a $100.00 price target for the company. They noted that the move was a valuation call. Cowen and Company set a $100.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a report on Monday, February 6th. RBC Capital Markets cut their price target on shares of Gilead Sciences to $75.00 in a report on Wednesday, February 8th. Finally, Royal Bank Of Canada cut their price target on shares of Gilead Sciences from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $87.20.
In related news, insider John C. Martin sold 73,337 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $73.59, for a total value of $5,396,869.83. Following the completion of the sale, the insider now owns 3,204,433 shares of the company’s stock, valued at $235,814,224.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
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.
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