State Street Corp Sells 442,631 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)
State Street Corp decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,006,200 shares of the biopharmaceutical company’s stock after selling 442,631 shares during the period. State Street Corp’s holdings in Gilead Sciences were worth $4,075,620,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position 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 worth $2,076,368,000 after buying an additional 2,727,063 shares during the last quarter. Parnassus Investments CA increased its position 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 worth $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Norges Bank purchased a new position in Gilead Sciences during the fourth quarter worth about $997,048,000. APG Asset Management N.V. increased its position in Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock worth $402,319,000 after buying an additional 849,741 shares during the last quarter. Finally, Swiss National Bank increased its position in Gilead Sciences by 26.9% in the first quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock worth $317,059,000 after buying an additional 989,400 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gilead Sciences, Inc. (GILD) traded down 0.41% on Friday, reaching $72.40. The company had a trading volume of 7,029,745 shares. The firm has a market capitalization of $94.55 billion, a P/E ratio of 7.86 and a beta of 1.21. The company’s 50-day moving average price is $72.36 and its 200 day moving average price is $68.77. Gilead Sciences, Inc. has a 52 week low of $63.76 and a 52 week high of $82.10.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the firm earned $3.08 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts expect that Gilead Sciences, Inc. will post $8.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.87%. Gilead Sciences’s payout ratio is 22.58%.
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GILD has been the topic of a number of recent research reports. Maxim Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $82.00 price objective (up previously from $72.00) on shares of Gilead Sciences in a research report on Thursday, July 27th. Zacks Investment Research downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Vetr raised Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $74.58 price objective on the stock in a research report on Tuesday, April 18th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $85.00 price objective (down previously from $90.00) on shares of Gilead Sciences in a research report on Sunday, April 23rd. Twelve research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Gilead Sciences presently has an average rating of “Buy” and an average price target of $80.31.
In other news, EVP Gregg H. Alton sold 40,000 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $74.00, for a total transaction of $2,960,000.00. Following the completion of the transaction, the executive vice president now directly owns 137,488 shares of the company’s stock, valued at approximately $10,174,112. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John C. Martin sold 73,333 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $71.00, for a total value of $5,206,643.00. Following the transaction, the insider now directly owns 3,199,969 shares of the company’s stock, valued at $227,197,799. The disclosure for this sale can be found here. Insiders have sold a total of 206,666 shares of company stock valued at $15,223,184 over the last ninety days. 1.30% of the stock is owned by 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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