Summit Global Investments Sells 195 Shares of Gilead Sciences, Inc. (GILD)
Summit Global Investments lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 43,199 shares of the biopharmaceutical company’s stock after selling 195 shares during the period. Summit Global Investments’ holdings in Gilead Sciences were worth $2,934,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Parnassus Investments CA boosted its stake in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $2,076,368,000 after buying an additional 2,727,063 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Gilead Sciences by 75.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,549,292 shares of the biopharmaceutical company’s stock valued at $173,148,000 after buying an additional 1,092,206 shares during the period. AQR Capital Management LLC boosted its stake in shares of Gilead Sciences by 25.7% in the first quarter. AQR Capital Management LLC now owns 5,213,046 shares of the biopharmaceutical company’s stock valued at $354,070,000 after buying an additional 1,066,172 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Gilead Sciences by 26.9% in the first quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock valued at $317,059,000 after buying an additional 989,400 shares during the period. 74.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gilead Sciences, Inc. (GILD) traded up 0.432% during trading on Monday, hitting $72.713. The company had a trading volume of 1,002,966 shares. Gilead Sciences, Inc. has a 52-week low of $63.76 and a 52-week high of $82.10. The firm has a market capitalization of $94.96 billion, a P/E ratio of 7.898 and a beta of 1.21. The stock’s 50-day moving average is $72.36 and its 200 day moving average is $68.77.
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 the consensus estimate of $2.11 by $0.45. The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. Equities research analysts predict that Gilead Sciences, Inc. will post $8.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 annualized dividend and a yield of 2.87%. Gilead Sciences’s dividend payout ratio is currently 22.58%.
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Several analysts have issued reports on GILD shares. Vetr raised Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $74.58 target price on the stock in a research report on Tuesday, April 18th. Zacks Investment Research raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Tuesday, May 2nd. BidaskClub raised Gilead Sciences from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 22nd. Barclays PLC reissued an “overweight” rating and issued a $85.00 price objective (down previously from $90.00) on shares of Gilead Sciences in a research report on Sunday, April 23rd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $79.00 price objective on shares of Gilead Sciences in a research report on Monday, May 15th. Twelve research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $80.31.
In related news, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $71.06, for a total transaction of $355,300.00. Following the completion of the transaction, the executive vice president now directly owns 102,988 shares of the company’s stock, valued at $7,318,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John C. Martin sold 73,333 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $75.86, for a total transaction of $5,563,041.38. Following the transaction, the insider now directly owns 3,199,969 shares of the company’s stock, valued at $242,749,648.34. The disclosure for this sale can be found here. Insiders have sold 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 corporate insiders.
Gilead Sciences Company 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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