Utah Retirement Systems Acquires 1,100 Shares of Gilead Sciences, Inc. (GILD)
Utah Retirement Systems lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 240,886 shares of the biopharmaceutical company’s stock after purchasing an additional 1,100 shares during the period. Utah Retirement Systems’ holdings in Gilead Sciences were worth $18,599,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Gilead Sciences in the 3rd quarter worth about $100,000. Reilly Financial Advisors LLC grew its stake in shares of Gilead Sciences by 98.3% in the third quarter. Reilly Financial Advisors LLC now owns 1,420 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 704 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Gilead Sciences in the second quarter worth approximately $132,000. Brand Asset Management Group Inc. bought a new stake in Gilead Sciences during the second quarter valued at approximately $139,000. Finally, TRUE Private Wealth Advisors purchased a new position in Gilead Sciences during the third quarter valued at approximately $174,000. 78.19% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. ValuEngine downgraded shares of Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. BidaskClub cut shares of Gilead Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Zacks Investment Research lowered shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Cantor Fitzgerald increased their price objective on shares of Gilead Sciences from $87.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, October 26th. Finally, Piper Jaffray Companies downgraded shares of Gilead Sciences from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $75.00 in a report on Friday, October 26th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $88.63.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.21. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.44 billion. Gilead Sciences had a return on equity of 39.32% and a net margin of 7.12%. During the same period in the prior year, the company posted $2.27 EPS. As a group, research analysts expect that Gilead Sciences, Inc. will post 6.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, December 13th. Gilead Sciences’s dividend payout ratio is currently 26.64%.
In other news, Director John C. Martin sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $78.04, for a total value of $3,902,000.00. Following the completion of the transaction, the director now owns 3,067,762 shares in the company, valued at approximately $239,408,146.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 150,000 shares of company stock valued at $10,939,500. Corporate insiders own 1.16% of the company’s stock.
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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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