Van ECK Associates Corp Decreases Holdings in Gilead Sciences, Inc. (GILD)
Van ECK Associates Corp reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 25.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,065,730 shares of the biopharmaceutical company’s stock after selling 358,011 shares during the period. Van ECK Associates Corp’s holdings in Gilead Sciences were worth $86,345,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of GILD. Welch Investments LLC bought a new stake in shares of Gilead Sciences during the third quarter valued at approximately $108,000. Horan Capital Advisors LLC. bought a new stake in shares of Gilead Sciences during the third quarter valued at approximately $144,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Gilead Sciences during the second quarter valued at approximately $147,000. Hanson & Doremus Investment Management raised its holdings in shares of Gilead Sciences by 806.5% during the third quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 1,613 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Gilead Sciences by 29.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,120 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 480 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.
In other Gilead Sciences news, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $74.82, for a total transaction of $1,122,300.00. Following the transaction, the executive vice president now directly owns 77,363 shares in the company, valued at approximately $5,788,299.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James R. Meyers sold 100,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $80.24, for a total transaction of $8,024,000.00. Following the transaction, the executive vice president now owns 102,715 shares in the company, valued at $8,241,851.60. The disclosure for this sale can be found here. Insiders sold 591,666 shares of company stock worth $44,466,567 in the last ninety days. 1.30% of the stock is owned by corporate insiders.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.14. The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The firm’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.75 earnings per share. equities research analysts forecast that Gilead Sciences, Inc. will post 8.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Friday, December 15th were issued a $0.52 dividend. The ex-dividend date was Thursday, December 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.55%. Gilead Sciences’s dividend payout ratio is currently 23.66%.
A number of equities research analysts have recently weighed in on the company. Credit Suisse Group set a $80.00 price target on Gilead Sciences and gave the company a “hold” rating in a report on Wednesday, January 3rd. Oppenheimer assumed coverage on Gilead Sciences in a report on Thursday, October 5th. They set a “market perform” rating on the stock. Mizuho boosted their target price on Gilead Sciences from $77.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Leerink Swann boosted their target price on Gilead Sciences from $87.00 to $89.00 and gave the stock a “market perform” rating in a report on Thursday, October 5th. Finally, BMO Capital Markets dropped their target price on Gilead Sciences from $89.00 to $83.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the stock. Gilead Sciences presently has a consensus rating of “Buy” and a consensus target price of $85.53.
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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