Renaissance Group LLC increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 8.2% during the first quarter, Holdings Channel reports. The firm owned 366,976 shares of the biopharmaceutical company’s stock after buying an additional 27,760 shares during the period. Renaissance Group LLC’s holdings in Gilead Sciences were worth $24,925,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GILD. Norges Bank acquired a new stake in Gilead Sciences during the fourth quarter valued at $997,048,000. Parnassus Investments CA boosted its stake in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Gilead Sciences by 170.9% in the fourth quarter. Renaissance Technologies LLC now owns 5,274,948 shares of the biopharmaceutical company’s stock valued at $377,739,000 after buying an additional 3,327,900 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock valued at $2,076,368,000 after buying an additional 2,727,063 shares during the last quarter. Finally, Numeric Investors LLC boosted its stake in Gilead Sciences by 173.5% in the fourth quarter. Numeric Investors LLC now owns 2,820,505 shares of the biopharmaceutical company’s stock valued at $201,976,000 after buying an additional 1,789,101 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Gilead Sciences, Inc. (NASDAQ GILD) opened at 70.57 on Monday. Gilead Sciences, Inc. has a 52-week low of $63.76 and a 52-week high of $88.85. The company has a market cap of $92.22 billion, a PE ratio of 7.46 and a beta of 1.20. The stock’s 50 day moving average is $66.03 and its 200-day moving average is $68.95.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.02. Gilead Sciences had a net margin of 43.42% and a return on equity of 76.64%. The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Equities research analysts predict that Gilead Sciences, Inc. will post $8.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Friday, June 16th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Wednesday, June 14th. Gilead Sciences’s dividend payout ratio is currently 21.99%.

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Several equities research analysts have weighed in on GILD shares. Vetr upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $74.58 target price for the company in a research note on Tuesday, April 18th. Jefferies Group LLC restated a “buy” rating and set a $82.00 target price on shares of Gilead Sciences in a research note on Thursday, April 6th. J P Morgan Chase & Co restated an “overweight” rating and set a $82.00 target price on shares of Gilead Sciences in a research note on Thursday, April 6th. Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Tuesday, May 2nd. Finally, Barclays PLC restated an “overweight” rating and set a $85.00 target price (down from $90.00) on shares of Gilead Sciences in a research note on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Gilead Sciences presently has an average rating of “Buy” and a consensus target price of $80.13.

In related news, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $71.06, for a total transaction of $355,300.00. Following the transaction, the executive vice president now owns 102,988 shares in the company, valued at $7,318,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Francis Cogan sold 9,943 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $67.25, for a total transaction of $668,666.75. Following the transaction, the director now owns 47,562 shares in the company, valued at approximately $3,198,544.50. The disclosure for this sale can be found here. Insiders have sold 88,276 shares of company stock worth $6,230,610 in the last quarter. 1.30% of the stock is owned by corporate insiders.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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