Zions Bancorporation bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the third quarter, HoldingsChannel reports. The firm bought 3,359 shares of the biopharmaceutical company’s stock, valued at approximately $259,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of GILD. Principal Financial Group Inc. boosted its stake in shares of Gilead Sciences by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,945,595 shares of the biopharmaceutical company’s stock worth $222,068,000 after acquiring an additional 148,398 shares in the last quarter. Clinton Group Inc. purchased a new position in Gilead Sciences in the 2nd quarter valued at about $537,000. IFM Investors Pty Ltd lifted its stake in Gilead Sciences by 45.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 59,124 shares of the biopharmaceutical company’s stock valued at $4,188,000 after buying an additional 18,536 shares in the last quarter. Lynch & Associates IN lifted its stake in Gilead Sciences by 8.4% in the 2nd quarter. Lynch & Associates IN now owns 18,541 shares of the biopharmaceutical company’s stock valued at $1,313,000 after buying an additional 1,431 shares in the last quarter. Finally, Silverleafe Capital Partners LLC purchased a new position in Gilead Sciences in the 2nd quarter valued at about $285,000. 78.09% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on GILD. BidaskClub raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. ValuEngine lowered shares of Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. Mizuho set a $94.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research lowered shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Cantor Fitzgerald raised their price target on shares of Gilead Sciences from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, October 26th. Thirteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $87.84.
GILD opened at $69.45 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.39 and a current ratio of 3.47. Gilead Sciences, Inc. has a 1-year low of $64.27 and a 1-year high of $89.54. The company has a market capitalization of $90.02 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of -2.69 and a beta of 1.01.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.21. Gilead Sciences had a net margin of 7.12% and a return on equity of 39.32%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the company posted $2.27 EPS. Sell-side analysts forecast that Gilead Sciences, Inc. will post 6.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.28%. 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 that occurred on Monday, October 1st. The shares were sold at an average price of $78.04, for a total transaction of $3,902,000.00. Following the completion of the sale, the director now owns 3,067,762 shares in the company, valued at approximately $239,408,146.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 150,000 shares of company stock valued at $11,087,500 in the last 90 days. 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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