South Dakota Investment Council trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 952,965 shares of the biopharmaceutical company’s stock after selling 11,320 shares during the quarter. Gilead Sciences comprises 1.4% of South Dakota Investment Council’s portfolio, making the stock its 10th biggest holding. South Dakota Investment Council owned about 0.07% of Gilead Sciences worth $67,451,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Pioneer Investment Management Inc. raised its holdings in Gilead Sciences by 84.0% during the 2nd quarter. Pioneer Investment Management Inc. now owns 3,493,148 shares of the biopharmaceutical company’s stock worth $247,245,000 after purchasing an additional 1,595,085 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in Gilead Sciences by 90.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,583,196 shares of the biopharmaceutical company’s stock worth $182,839,000 after purchasing an additional 1,229,916 shares during the last quarter. Harbour Capital Advisors LLC raised its holdings in Gilead Sciences by 6,595.9% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,221,804 shares of the biopharmaceutical company’s stock worth $17,262,000 after purchasing an additional 1,203,557 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Gilead Sciences by 41.2% during the 2nd quarter. Principal Financial Group Inc. now owns 3,909,105 shares of the biopharmaceutical company’s stock worth $276,687,000 after purchasing an additional 1,140,112 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in Gilead Sciences by 75.0% during the 1st 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 purchasing an additional 1,092,206 shares during the last quarter. 74.62% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Gregg H. Alton sold 15,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $74.82, for a total value of $1,122,300.00. Following the sale, the executive vice president now owns 77,363 shares in the company, valued at approximately $5,788,299.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robin L. Washington sold 51,820 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $85.00, for a total value of $4,404,700.00. Following the completion of the sale, the chief financial officer now owns 43,352 shares in the company, valued at approximately $3,684,920. The disclosure for this sale can be found here. In the last quarter, insiders have sold 666,819 shares of company stock worth $52,303,086. Company insiders own 1.30% of the company’s stock.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.14. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the business posted $2.75 EPS. The business’s revenue was down 13.2% compared to the same quarter last year. research analysts forecast that Gilead Sciences, Inc. will post 8.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, December 14th. Gilead Sciences’s dividend payout ratio is currently 23.69%.
Several analysts have weighed in on the company. Leerink Swann boosted their price objective on Gilead Sciences from $84.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, October 19th. BMO Capital Markets reissued an “outperform” rating and set a $82.00 price objective (up from $72.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Mizuho boosted their price objective on Gilead Sciences from $77.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. BidaskClub upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Cowen and Company restated an “outperform” rating and set a $90.00 target price on shares of Gilead Sciences in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $84.87.
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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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