Bank of Montreal Can cut its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,274,211 shares of the biopharmaceutical company’s stock after selling 361,325 shares during the quarter. Bank of Montreal Can owned about 0.18% of Gilead Sciences worth $175,593,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in shares of Gilead Sciences by 11.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,936,970 shares of the biopharmaceutical company’s stock valued at $2,191,575,000 after purchasing an additional 3,221,439 shares during the period. Northern Trust Corp raised its stake in shares of Gilead Sciences by 2.0% during the 2nd quarter. Northern Trust Corp now owns 16,823,192 shares of the biopharmaceutical company’s stock valued at $1,191,754,000 after purchasing an additional 325,246 shares during the period. Sanders Capital LLC raised its stake in shares of Gilead Sciences by 7.0% during the 2nd quarter. Sanders Capital LLC now owns 10,579,575 shares of the biopharmaceutical company’s stock valued at $804,126,000 after purchasing an additional 696,200 shares during the period. Boston Partners raised its stake in shares of Gilead Sciences by 3.1% during the 2nd quarter. Boston Partners now owns 8,290,507 shares of the biopharmaceutical company’s stock valued at $587,300,000 after purchasing an additional 245,805 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of Gilead Sciences by 0.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 7,038,387 shares of the biopharmaceutical company’s stock valued at $498,599,000 after purchasing an additional 22,916 shares during the period. Hedge funds and other institutional investors own 77.99% of the company’s stock.
In other news, Director John C. Martin sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $74.16, for a total value of $3,708,000.00. Following the completion of the transaction, the director now directly owns 3,067,762 shares in the company, valued at approximately $227,505,229.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 150,000 shares of company stock valued at $11,502,500 over the last quarter. Company insiders own 1.16% of the company’s stock.
Gilead Sciences stock opened at $73.59 on Friday. Gilead Sciences, Inc. has a 52 week low of $64.27 and a 52 week high of $89.54. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.00 and a quick ratio of 2.92. The stock has a market cap of $100.09 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of -3.92 and a beta of 1.01.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, July 25th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.35. Gilead Sciences had a return on equity of 41.57% and a net margin of 9.52%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the previous year, the business earned $2.56 earnings per share. The firm’s revenue was down 20.9% on a year-over-year basis. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 6.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Friday, September 14th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, September 13th. Gilead Sciences’s payout ratio is currently 26.64%.
A number of analysts recently issued reports on the company. BidaskClub upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. ValuEngine lowered Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. Mizuho set a $94.00 price objective on Gilead Sciences and gave the company a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research lowered Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Robert W. Baird lowered Gilead Sciences from an “outperform” rating to a “neutral” rating and set a $79.00 price objective on the stock. in a research note on Thursday, July 26th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Gilead Sciences currently has an average rating of “Buy” and an average target price of $88.24.
Gilead Sciences Profile
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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