Quantitative Investment Management LLC Takes Position in Gilead Sciences, Inc. (GILD)
Quantitative Investment Management LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 368,300 shares of the biopharmaceutical company’s stock, valued at approximately $26,068,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. grew its position in Gilead Sciences by 583.3% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 1,400 shares during the period. Penserra Capital Management LLC grew its position in Gilead Sciences by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 144 shares during the period. American Beacon Advisors Inc. acquired a new position in Gilead Sciences during the first quarter worth about $143,000. Sterling Investment Advisors Ltd. acquired a new position in Gilead Sciences during the second quarter worth about $184,000. Finally, Washington Trust Bank grew its position in Gilead Sciences by 24.8% during the second quarter. Washington Trust Bank now owns 2,767 shares of the biopharmaceutical company’s stock worth $196,000 after buying an additional 550 shares during the period. 76.30% of the stock is owned by hedge funds and other institutional investors.
Shares of Gilead Sciences, Inc. (GILD) opened at $72.46 on Monday. Gilead Sciences, Inc. has a 1 year low of $63.76 and a 1 year high of $86.27. The stock has a market cap of $94,652.25, a P/E ratio of 7.56, a P/E/G ratio of -1.21 and a beta of 1.13. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.56 and a current ratio of 3.68.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the business earned $2.75 earnings per share. Gilead Sciences’s revenue was down 13.2% compared to the same quarter last year. analysts forecast that Gilead Sciences, Inc. will post 8.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.87%. Gilead Sciences’s dividend payout ratio (DPR) is currently 23.69%.
Several brokerages have weighed in on GILD. Argus upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Thursday, August 31st. BidaskClub lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Vetr lowered shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $82.15 target price on the stock. in a research report on Monday, August 28th. Wells Fargo & Company upped their target price on shares of Gilead Sciences from $73.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 6th. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Gilead Sciences in a research report on Thursday, October 5th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $84.87.
In related news, insider John F. Milligan sold 220,000 shares of the firm’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 transaction of $16,033,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gregg H. Alton sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $79.00, for a total transaction of $3,950,000.00. Following the sale, the executive vice president now owns 113,237 shares in the company, valued at approximately $8,945,723. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 666,819 shares of company stock worth $52,303,086. 1.30% of the stock is owned by company insiders.
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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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