Macquarie Group Ltd. Cuts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)
Macquarie Group Ltd. cut its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 11.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 438,147 shares of the biopharmaceutical company’s stock after selling 54,603 shares during the period. Macquarie Group Ltd.’s holdings in Gilead Sciences were worth $29,759,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in GILD. Norges Bank purchased a new stake in Gilead Sciences during the fourth quarter worth about $997,048,000. Parnassus Investments CA increased 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 worth $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Bank of New York Mellon Corp increased 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 worth $2,076,368,000 after buying an additional 2,727,063 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Gilead Sciences by 75.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,549,292 shares of the biopharmaceutical company’s stock worth $173,148,000 after buying an additional 1,092,206 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Gilead Sciences by 25.7% in the first quarter. AQR Capital Management LLC now owns 5,213,046 shares of the biopharmaceutical company’s stock worth $354,070,000 after buying an additional 1,066,172 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) traded down 0.41% during midday trading on Friday, hitting $72.40. The company had a trading volume of 7,029,745 shares. Gilead Sciences, Inc. has a 12 month low of $63.76 and a 12 month high of $82.10. The company has a 50-day moving average of $72.36 and a 200 day moving average of $68.77. The firm has a market capitalization of $94.55 billion, a PE ratio of 7.86 and a beta of 1.21.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. Gilead Sciences’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.08 EPS. On average, analysts expect that Gilead Sciences, Inc. will post $8.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is 22.58%.
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A number of analysts have issued reports on GILD shares. 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 note on Tuesday, April 18th. Zacks Investment Research raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Tuesday, May 2nd. BidaskClub raised Gilead Sciences from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. Barclays PLC reaffirmed an “overweight” rating and issued a $85.00 price objective (down previously from $90.00) on shares of Gilead Sciences in a research note on Sunday, April 23rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $79.00 price objective on shares of Gilead Sciences in a research note on Monday, May 15th. Twelve research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Gilead Sciences has an average rating of “Buy” and a consensus target price of $80.31.
In other news, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $71.06, for a total value of $355,300.00. Following the completion of the sale, the executive vice president now directly owns 102,988 shares of the company’s stock, valued at approximately $7,318,327.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John C. Martin sold 73,333 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $75.86, for a total value of $5,563,041.38. Following the completion of the sale, the insider now directly owns 3,199,969 shares of the company’s stock, valued at $242,749,648.34. 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 company insiders.
About Gilead Sciences
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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