Todd Asset Management LLC bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 211,274 shares of the biopharmaceutical company’s stock, valued at approximately $17,118,000.
Several other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Gilead Sciences in the 2nd quarter worth about $147,000. Hanson & Doremus Investment Management increased its holdings in Gilead Sciences by 806.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after acquiring an additional 1,613 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Gilead Sciences by 29.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,120 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 480 shares during the last quarter. Rowland & Co. Investment Counsel ADV purchased a new stake in Gilead Sciences in the 2nd quarter worth about $153,000. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new stake in Gilead Sciences in the 2nd quarter worth about $172,000. 75.94% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on GILD. Credit Suisse Group set a $80.00 price objective on Gilead Sciences and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Oppenheimer began coverage on Gilead Sciences in a report on Thursday, October 5th. They issued a “market perform” rating for the company. Mizuho lifted 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. Leerink Swann lifted their price objective 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 cut their target price on Gilead Sciences from $89.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $85.03.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.14. The firm had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.40 billion. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter last year, the company posted $2.75 EPS. sell-side analysts forecast that Gilead Sciences, Inc. will post 8.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 15th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.63%. Gilead Sciences’s dividend payout ratio (DPR) is presently 23.69%.
In other news, insider John F. Milligan sold 220,000 shares of Gilead Sciences stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $72.88, for a total transaction of $16,033,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction dated Wednesday, November 1st. The shares were 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 of the company’s stock, valued at approximately $5,788,299.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 461,666 shares of company stock valued at $34,072,567. Corporate insiders own 1.30% of the company’s stock.
Gilead Sciences 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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