Xact Kapitalforvaltning AB Sells 12,642 Shares of Gilead Sciences, Inc. (GILD)
Xact Kapitalforvaltning AB cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,380 shares of the biopharmaceutical company’s stock after selling 12,642 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Gilead Sciences were worth $14,723,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Gilead Sciences by 42.2% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 130,139 shares of the biopharmaceutical company’s stock worth $10,048,000 after buying an additional 38,633 shares during the period. First Hawaiian Bank bought a new position in shares of Gilead Sciences in the third quarter worth about $3,429,000. Andra AP fonden increased its stake in shares of Gilead Sciences by 4.5% in the third quarter. Andra AP fonden now owns 187,000 shares of the biopharmaceutical company’s stock worth $14,438,000 after purchasing an additional 8,100 shares during the period. Raymond James Trust N.A. increased its stake in shares of Gilead Sciences by 7.7% in the third quarter. Raymond James Trust N.A. now owns 24,469 shares of the biopharmaceutical company’s stock worth $1,889,000 after purchasing an additional 1,746 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Gilead Sciences by 21.3% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 78,638 shares of the biopharmaceutical company’s stock worth $6,072,000 after purchasing an additional 13,835 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.
Gilead Sciences stock traded up $0.39 during mid-day trading on Monday, reaching $67.86. 88,844 shares of the company’s stock traded hands, compared to its average volume of 7,233,361. Gilead Sciences, Inc. has a 12-month low of $60.32 and a 12-month high of $82.71. The company has a market cap of $87.28 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 66.65 and a beta of 1.19. The company has a quick ratio of 3.29, a current ratio of 3.36 and a debt-to-equity ratio of 1.09.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.63 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, March 14th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.71%. Gilead Sciences’s dividend payout ratio (DPR) is presently 37.07%.
In other Gilead Sciences news, Director John C. Martin sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $71.20, for a total transaction of $3,560,000.00. Following the completion of the sale, the director now directly owns 2,877,762 shares in the company, valued at $204,896,654.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.16% of the stock is currently owned by company insiders.
GILD has been the topic of a number of recent research reports. Cantor Fitzgerald lifted their price objective on Gilead Sciences from $87.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, October 26th. Guggenheim initiated coverage on Gilead Sciences in a report on Monday, December 17th. They set a “buy” rating and a $86.00 price objective on the stock. Raymond James set a $90.00 price objective on Gilead Sciences and gave the company a “buy” rating in a report on Tuesday, February 5th. BidaskClub downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, Piper Jaffray Companies downgraded Gilead Sciences from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $75.00 in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $86.85.
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Gilead Sciences Company Profile
Gilead Sciences, Inc discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
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