Quadrant Capital Management LLC Acquires 1,924 Shares of Gilead Sciences Inc. (GILD)
Quadrant Capital Management LLC raised its position in shares of Gilead Sciences Inc. (NASDAQ:GILD) by 6.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 31,749 shares of the biopharmaceutical company’s stock after buying an additional 1,924 shares during the period. Gilead Sciences makes up 2.2% of Quadrant Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Quadrant Capital Management LLC’s holdings in Gilead Sciences were worth $2,649,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $1,308,213,000. Investec Asset Management LTD purchased a new stake in shares of Gilead Sciences during the first quarter worth about $280,342,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Gilead Sciences during the first quarter worth about $180,268,000. Temasek Holdings Private Ltd raised its stake in shares of Gilead Sciences by 8.1% in the first quarter. Temasek Holdings Private Ltd now owns 13,830,516 shares of the biopharmaceutical company’s stock worth $1,270,471,000 after buying an additional 1,035,592 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Gilead Sciences by 15.6% in the first quarter. Canada Pension Plan Investment Board now owns 4,955,996 shares of the biopharmaceutical company’s stock worth $455,258,000 after buying an additional 669,800 shares in the last quarter. Institutional investors and hedge funds own 77.96% of the company’s stock.
Gilead Sciences Inc. (NASDAQ:GILD) traded down 0.05% during trading on Friday, reaching $78.80. 10,307,872 shares of the company were exchanged. The stock has a market capitalization of $103.99 billion, a PE ratio of 6.92 and a beta of 1.06. The firm’s 50 day moving average is $79.54 and its 200 day moving average is $86.33. Gilead Sciences Inc. has a 52-week low of $76.67 and a 52-week high of $113.31.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.06. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The company had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same period in the prior year, the company posted $3.15 EPS. Gilead Sciences’s quarterly revenue was down 5.7% on a year-over-year basis. Analysts expect that Gilead Sciences Inc. will post $11.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 16th will be given a $0.47 dividend. 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 16.56%.
A number of brokerages recently issued reports on GILD. Jefferies Group reissued a “hold” rating and issued a $96.00 price objective on shares of Gilead Sciences in a report on Sunday, June 12th. Morgan Stanley reissued a “hold” rating on shares of Gilead Sciences in a report on Sunday, May 29th. Piper Jaffray Cos. set a $108.00 price objective on shares of Gilead Sciences and gave the company a “buy” rating in a report on Sunday, August 21st. Argus lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $88.00 to $81.00 in a report on Friday, July 29th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $105.00 price objective (down previously from $120.00) on shares of Gilead Sciences in a report on Tuesday, July 26th. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Gilead Sciences has a consensus rating of “Buy” and a consensus price target of $105.41.
In other Gilead Sciences news, insider John C. Martin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $77.48, for a total value of $7,748,000.00. Following the transaction, the insider now directly owns 3,287,810 shares of the company’s stock, valued at approximately $254,739,518.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul Rutherford Carter sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $83.12, for a total value of $166,240.00. Following the completion of the transaction, the executive vice president now directly owns 63,122 shares in the company, valued at $5,246,700.64. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
About Gilead Sciences
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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