Ameriprise Financial Inc. Reduces Stake in Gilead Sciences Inc. (GILD)
Ameriprise Financial Inc. cut its position in Gilead Sciences Inc. (NASDAQ:GILD) by 10.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,912,253 shares of the biopharmaceutical company’s stock after selling 441,422 shares during the period. Ameriprise Financial Inc. owned approximately 0.29% of Gilead Sciences worth $326,482,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Gilead Sciences during the fourth quarter worth approximately $1,308,213,000. Bank of Montreal Can bought a new position in Gilead Sciences during the second quarter worth approximately $427,750,000. Investec Asset Management LTD bought a new position in Gilead Sciences during the first quarter worth approximately $280,342,000. NN Investment Partners Holdings N.V. bought a new position in Gilead Sciences during the first quarter worth approximately $180,268,000. Finally, Emerald Acquisition Ltd. bought a new position in Gilead Sciences during the second quarter worth approximately $129,175,000. 77.96% of the stock is owned by hedge funds and other institutional investors.
Gilead Sciences Inc. (NASDAQ:GILD) traded down 0.05% on Friday, reaching $78.80. The company’s stock had a trading volume of 10,307,872 shares. The stock has a market cap of $103.99 billion, a P/E ratio of 6.92 and a beta of 1.06. The stock has a 50-day moving average of $79.54 and a 200-day moving average of $86.33. Gilead Sciences Inc. has a one year low of $76.67 and a one year high of $113.31.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.06. The firm had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.15 earnings per share. On average, analysts predict that Gilead Sciences Inc. will post $11.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, September 14th. Gilead Sciences’s payout ratio is currently 16.56%.
A number of research analysts have recently commented on GILD shares. Piper Jaffray Cos. reissued a “buy” rating and issued a $108.00 target price on shares of Gilead Sciences in a report on Monday, August 15th. Jefferies Group upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and raised their price objective for the company from $76.89 to $91.00 in a report on Tuesday, September 6th. Morgan Stanley reiterated a “hold” rating and issued a $103.00 price objective on shares of Gilead Sciences in a report on Wednesday, June 15th. Berenberg Bank assumed coverage on shares of Gilead Sciences in a report on Monday, September 12th. They issued a “buy” rating and a $112.00 price objective for the company. Finally, Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a report on Sunday, July 10th. Nine analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $105.41.
In other news, EVP Paul Rutherford Carter sold 2,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $166,240.00. Following the transaction, the executive vice president now directly owns 63,122 shares of the company’s stock, valued at $5,246,700.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman John C. Martin sold 100,000 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $84.73, for a total value of $8,473,000.00. Following the transaction, the chairman now directly owns 4,119,727 shares in the company, valued at $349,064,468.71. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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