Contrarius Investment Management Ltd Has $12.03 Million Stake in Gilead Sciences, Inc. (GILD)
Contrarius Investment Management Ltd lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 8.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 169,759 shares of the biopharmaceutical company’s stock after acquiring an additional 13,272 shares during the period. Contrarius Investment Management Ltd’s holdings in Gilead Sciences were worth $12,026,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. DnB Asset Management AS lifted its holdings in Gilead Sciences by 4.4% during the 2nd quarter. DnB Asset Management AS now owns 156,552 shares of the biopharmaceutical company’s stock valued at $11,090,000 after purchasing an additional 6,600 shares during the last quarter. Vishria Bird Financial Group LLC bought a new position in shares of Gilead Sciences in the second quarter worth about $4,307,000. Fosun International Ltd raised its stake in shares of Gilead Sciences by 181.4% in the first quarter. Fosun International Ltd now owns 348,222 shares of the biopharmaceutical company’s stock worth $26,252,000 after acquiring an additional 224,463 shares during the last quarter. IPG Investment Advisors LLC bought a new position in shares of Gilead Sciences in the second quarter worth about $241,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gilead Sciences by 33.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 749,727 shares of the biopharmaceutical company’s stock worth $53,111,000 after acquiring an additional 188,646 shares during the last quarter. 77.40% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on GILD shares. Raymond James started coverage on shares of Gilead Sciences in a research note on Thursday, June 28th. They issued a “strong-buy” rating and a $93.00 target price for the company. Wells Fargo & Co boosted their target price on shares of Gilead Sciences from $89.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Wednesday, July 18th. Morgan Stanley boosted their target price on shares of Gilead Sciences from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 26th. Finally, ValuEngine downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $88.00.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, July 25th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.56 by $0.35. Gilead Sciences had a net margin of 9.52% and a return on equity of 41.57%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the previous year, the company earned $2.56 EPS. Gilead Sciences’s revenue was down 20.9% on a year-over-year basis. equities research analysts forecast that Gilead Sciences, Inc. will post 6.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Friday, September 14th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, September 13th. Gilead Sciences’s dividend payout ratio is 26.64%.
In other news, Director John C. Martin sold 50,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $70.81, for a total transaction of $3,540,500.00. Following the completion of the sale, the director now owns 3,067,762 shares in the company, valued at approximately $217,228,227.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 150,000 shares of company stock valued at $10,839,500. 1.16% of the stock is owned by corporate insiders.
About Gilead Sciences
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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