Martingale Asset Management L P Sells 8,887 Shares of Gilead Sciences, Inc. (GILD)
Martingale Asset Management L P lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 12.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,308 shares of the biopharmaceutical company’s stock after selling 8,887 shares during the period. Martingale Asset Management L P’s holdings in Gilead Sciences were worth $4,411,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LS Investment Advisors LLC boosted its position in Gilead Sciences by 1.6% in the 1st quarter. LS Investment Advisors LLC now owns 137,931 shares of the biopharmaceutical company’s stock worth $9,368,000 after purchasing an additional 2,224 shares in the last quarter. American Assets Investment Management LLC raised its stake in shares of Gilead Sciences by 1,255.8% during the 1st quarter. American Assets Investment Management LLC now owns 67,790 shares of the biopharmaceutical company’s stock worth $4,604,000 after buying an additional 62,790 shares during the period. Swiss National Bank raised its stake in shares of Gilead Sciences by 26.9% during the 1st quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock worth $317,059,000 after buying an additional 989,400 shares during the period. World Asset Management Inc raised its stake in shares of Gilead Sciences by 18.4% during the 1st quarter. World Asset Management Inc now owns 145,074 shares of the biopharmaceutical company’s stock worth $9,853,000 after buying an additional 22,574 shares during the period. Finally, Morse Asset Management Inc acquired a new position in shares of Gilead Sciences during the 1st quarter worth approximately $2,147,000. Hedge funds and other institutional investors own 74.62% of the company’s stock.
Gilead Sciences, Inc. (NASDAQ:GILD) opened at $72.41 on Friday. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $86.27. The company has a quick ratio of 3.56, a current ratio of 3.68 and a debt-to-equity ratio of 1.10. The stock has a market cap of $93,803.18, a P/E ratio of 7.50, a PEG ratio of -1.20 and a beta of 1.13.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the previous year, the company posted $2.75 earnings per share. Gilead Sciences’s quarterly revenue was down 13.2% compared to the same quarter last year. sell-side analysts forecast that Gilead Sciences, Inc. will post 8.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, December 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 23.69%.
Several research analysts have recently weighed in on the company. Argus downgraded Gilead Sciences from a “buy” rating to a “hold” rating and upped their target price for the stock from $73.25 to $73.77 in a research note on Monday. Mizuho upped their target price on Gilead Sciences from $77.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a research note on Friday, October 27th. BMO Capital Markets reduced their price objective 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. Finally, J P Morgan Chase & Co set a $85.00 target price on Gilead Sciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $84.87.
In related news, insider John F. Milligan sold 220,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $72.88, for a total value of $16,033,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robin L. Washington sold 51,820 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the completion of the transaction, the chief financial officer now owns 43,352 shares of the company’s stock, valued at approximately $3,684,920. The disclosure for this sale can be found here. Insiders sold 666,819 shares of company stock valued at $52,303,086 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.
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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