North Tide Capital LLC Acquires 500,000 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)
North Tide Capital LLC raised its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 100.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,000,000 shares of the biopharmaceutical company’s stock after buying an additional 500,000 shares during the period. Gilead Sciences accounts for about 10.4% of North Tide Capital LLC’s holdings, making the stock its 3rd largest position. North Tide Capital LLC’s holdings in Gilead Sciences were worth $67,920,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock worth $2,076,368,000 after buying an additional 2,727,063 shares during the last quarter. Parnassus Investments CA boosted its position in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Norges Bank acquired a new position in Gilead Sciences during the fourth quarter worth approximately $997,048,000. APG Asset Management N.V. boosted its position in Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock worth $402,319,000 after buying an additional 849,741 shares during the last quarter. Finally, Swiss National Bank boosted its position in Gilead Sciences by 26.9% in the first 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 last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.
Shares of Gilead Sciences, Inc. (NASDAQ GILD) traded down 1.04% during mid-day trading on Thursday, hitting $73.13. 2,019,612 shares of the company traded hands. The firm’s 50 day moving average price is $72.16 and its 200-day moving average price is $68.73. The stock has a market capitalization of $95.50 billion, a PE ratio of 7.94 and a beta of 1.21. Gilead Sciences, Inc. has a 1-year low of $63.76 and a 1-year high of $82.10.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.45. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the firm posted $3.08 EPS. Gilead Sciences’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Gilead Sciences, Inc. will post $8.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s dividend payout ratio is presently 22.58%.
A number of equities analysts recently commented on GILD shares. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, July 27th. BMO Capital Markets reiterated an “outperform” rating and set a $82.00 price target (up previously from $72.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Zacks Investment Research cut Gilead Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Vetr upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $74.58 price target for the company in a report on Tuesday, April 18th. Finally, Barclays PLC reiterated an “overweight” rating and set a $85.00 price target (down previously from $90.00) on shares of Gilead Sciences in a report on Sunday, April 23rd. Twelve investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Gilead Sciences currently has a consensus rating of “Buy” and an average price target of $80.31.
In other Gilead Sciences news, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $75.86, for a total transaction of $5,563,041.38. Following the completion of the transaction, the insider now directly owns 3,199,969 shares of the company’s stock, valued at approximately $242,749,648.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregg H. Alton sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $75.88, for a total transaction of $1,138,200.00. Following the transaction, the executive vice president now directly owns 106,113 shares of the company’s stock, valued at $8,051,854.44. The disclosure for this sale can be found here. Insiders have sold a total of 206,666 shares of company stock valued at $15,223,184 over the last three months. 1.30% of the stock is currently owned by insiders.
About Gilead Sciences
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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