Focused Alpha LLC purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,034 shares of the biopharmaceutical company’s stock, valued at approximately $1,141,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Aviva PLC grew its holdings in shares of Gilead Sciences by 5.4% in the fourth quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company’s stock valued at $141,978,000 after purchasing an additional 59,782 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new stake in Gilead Sciences in the fourth quarter worth $1,418,000. NBC Securities Inc. raised its stake in Gilead Sciences by 150.3% during the fourth quarter. NBC Securities Inc. now owns 17,147 shares of the biopharmaceutical company’s stock valued at $2,105,000 after purchasing an additional 10,296 shares in the last quarter. Flputnam Investment Management Co. lifted its position in Gilead Sciences by 66.5% during the fourth quarter. Flputnam Investment Management Co. now owns 105,740 shares of the biopharmaceutical company’s stock valued at $12,978,000 after purchasing an additional 42,243 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in Gilead Sciences by 14.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 106,526 shares of the biopharmaceutical company’s stock valued at $13,075,000 after purchasing an additional 13,385 shares during the last quarter. 83.67% of the stock is owned by institutional investors.
Insider Activity at Gilead Sciences
In related news, CEO Daniel Patrick O’day sold 15,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $131.46, for a total value of $1,971,900.00. Following the sale, the chief executive officer directly owned 617,567 shares of the company’s stock, valued at $81,185,357.82. This represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $123.92, for a total transaction of $371,760.00. Following the completion of the sale, the insider directly owned 124,234 shares of the company’s stock, valued at approximately $15,395,077.28. The trade was a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 51,000 shares of company stock worth $6,568,860. Insiders own 0.30% of the company’s stock.
Gilead Sciences Stock Up 0.4%
Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter in the prior year, the firm posted $2.01 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Gilead Sciences, Inc. will post -0.53 earnings per share for the current year.
Gilead Sciences Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio is presently -122.85%.
Analysts Set New Price Targets
GILD has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Rothschild & Co Redburn lowered their price target on shares of Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Gilead Sciences in a report on Wednesday, August 5th. Wall Street Zen upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Needham & Company LLC reissued a “buy” rating and set a $170.00 price objective on shares of Gilead Sciences in a research note on Wednesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.04.
Get Our Latest Report on Gilead Sciences
Gilead Sciences Company Profile
Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.
Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.
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