IPG Investment Advisors LLC bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,400 shares of the biopharmaceutical company’s stock, valued at approximately $241,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GILD. Bank of New York Mellon Corp lifted its position in Gilead Sciences by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 30,936,970 shares of the biopharmaceutical company’s stock worth $2,191,575,000 after purchasing an additional 3,221,439 shares during the period. Point72 Asset Management L.P. lifted its position in Gilead Sciences by 147.9% in the first quarter. Point72 Asset Management L.P. now owns 3,078,566 shares of the biopharmaceutical company’s stock worth $232,093,000 after purchasing an additional 1,836,662 shares during the period. Farallon Capital Management LLC acquired a new stake in Gilead Sciences in the first quarter worth approximately $137,210,000. State Treasurer State of Michigan lifted its position in Gilead Sciences by 55.5% in the first quarter. State Treasurer State of Michigan now owns 4,210,424 shares of the biopharmaceutical company’s stock worth $317,424,000 after purchasing an additional 1,502,700 shares during the period. Finally, BlackRock Inc. lifted its position in Gilead Sciences by 1.4% in the first quarter. BlackRock Inc. now owns 105,236,053 shares of the biopharmaceutical company’s stock worth $7,933,746,000 after purchasing an additional 1,438,806 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.
In other news, Director John C. Martin sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $77.85, for a total value of $3,892,500.00. Following the transaction, the director now directly owns 3,067,762 shares of the company’s stock, valued at $238,825,271.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 150,000 shares of company stock worth $10,839,500 over the last ninety days. 1.16% of the stock is currently owned by company insiders.
Shares of NASDAQ:GILD opened at $72.92 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.92 and a current ratio of 3.00. Gilead Sciences, Inc. has a 12-month low of $64.27 and a 12-month high of $89.54. The firm has a market cap of $99.47 billion, a price-to-earnings ratio of 8.52, a PEG ratio of -5.85 and a beta of 1.03.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, July 25th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.35. Gilead Sciences had a net margin of 9.52% and a return on equity of 41.57%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the business earned $2.56 EPS. The company’s revenue was down 20.9% on a year-over-year basis. sell-side analysts forecast that Gilead Sciences, Inc. will post 6.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Friday, September 14th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Thursday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 26.64%.
A number of research firms have weighed in on GILD. BidaskClub downgraded Gilead Sciences from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 20th. ValuEngine downgraded Gilead Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Mizuho set a $94.00 target price on Gilead Sciences and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Barclays dropped their price target on Gilead Sciences from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, May 2nd. Finally, Leerink Swann set a $72.00 price target on Gilead Sciences and gave the company a “market perform” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $88.00.
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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