State Board of Administration of Florida Retirement System lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,747,205 shares of the biopharmaceutical company’s stock after selling 20,023 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Gilead Sciences were worth $134,902,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in GILD. Bank of New York Mellon Corp lifted its holdings in Gilead Sciences by 11.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,936,970 shares of the biopharmaceutical company’s stock worth $2,191,575,000 after buying an additional 3,221,439 shares during the last quarter. Swedbank lifted its holdings in Gilead Sciences by 103.7% during the 3rd quarter. Swedbank now owns 3,906,172 shares of the biopharmaceutical company’s stock worth $301,596,000 after buying an additional 1,988,987 shares during the last quarter. Natixis raised its position in shares of Gilead Sciences by 4,550.6% during the 2nd quarter. Natixis now owns 1,913,535 shares of the biopharmaceutical company’s stock worth $135,555,000 after purchasing an additional 1,872,389 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Gilead Sciences by 1,631.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 997,656 shares of the biopharmaceutical company’s stock worth $70,674,000 after purchasing an additional 940,044 shares during the period. Finally, Sanders Capital LLC raised its position in shares of Gilead Sciences by 7.0% during the 2nd quarter. Sanders Capital LLC now owns 10,579,575 shares of the biopharmaceutical company’s stock worth $804,126,000 after purchasing an additional 696,200 shares during the period. 78.23% of the stock is currently owned by institutional investors.
In related news, Director John C. Martin sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $78.04, for a total value of $3,902,000.00. Following the sale, the director now directly owns 3,067,762 shares in the company, valued at approximately $239,408,146.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.63 by $0.21. Gilead Sciences had a return on equity of 39.32% and a net margin of 7.12%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the firm earned $2.27 EPS. As a group, research analysts expect that Gilead Sciences, Inc. will post 6.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, December 13th. Gilead Sciences’s dividend payout ratio is currently 26.64%.
GILD has been the topic of a number of research reports. BidaskClub upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Mizuho reiterated a “buy” rating and set a $94.00 price target on shares of Gilead Sciences in a research report on Friday, August 10th. Piper Jaffray Companies set a $85.00 price target on Gilead Sciences and gave the stock a “buy” rating in a research report on Wednesday, September 12th. ValuEngine upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Finally, Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Wednesday, July 18th. Thirteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Gilead Sciences has a consensus rating of “Buy” and an average price target of $87.84.
Gilead Sciences Profile
Gilead Sciences, Inc, a biopharmaceutical company, 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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