Parametric Portfolio Associates LLC boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 15.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,537,736 shares of the biopharmaceutical company’s stock after buying an additional 474,106 shares during the period. Parametric Portfolio Associates LLC’s holdings in Gilead Sciences were worth $286,627,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in GILD. Welch Investments LLC acquired a new stake in shares of Gilead Sciences in the 3rd quarter valued at $108,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Gilead Sciences in the 3rd quarter valued at $133,000. Horan Capital Advisors LLC. acquired a new stake in shares of Gilead Sciences in the 3rd quarter valued at $144,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Gilead Sciences in the 2nd quarter valued at $147,000. Finally, Hanson & Doremus Investment Management raised its holdings in shares of Gilead Sciences by 806.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock valued at $147,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.
In other Gilead Sciences news, Chairman John C. Martin sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $83.56, for a total transaction of $4,178,000.00. Following the transaction, the chairman now directly owns 3,046,766 shares of the company’s stock, valued at approximately $254,587,766.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg H. Alton sold 15,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $74.64, for a total transaction of $1,119,600.00. Following the transaction, the executive vice president now directly owns 70,988 shares in the company, valued at $5,298,544.32. The disclosure for this sale can be found here. Insiders have sold a total of 358,333 shares of company stock worth $28,066,908 over the last three months. 1.30% of the stock is currently owned by insiders.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.11. Gilead Sciences had a net margin of 17.73% and a return on equity of 50.29%. The company had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the firm posted $2.70 EPS. Gilead Sciences’s revenue for the quarter was down 18.7% on a year-over-year basis. equities analysts anticipate that Gilead Sciences, Inc. will post 6.41 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be given a dividend of $0.57 per share. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a yield of 2.85%. The ex-dividend date is Thursday, March 15th. Gilead Sciences’s dividend payout ratio (DPR) is presently 59.77%.
A number of equities research analysts have recently weighed in on the stock. Vetr upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $91.25 price objective on the stock in a report on Monday, February 5th. Mizuho restated a “buy” rating and issued a $95.00 price objective (up from $83.00) on shares of Gilead Sciences in a report on Monday. Leerink Swann raised their price objective on shares of Gilead Sciences from $84.00 to $85.00 and gave the company a “market perform” rating in a report on Thursday, October 19th. Citigroup restated a “buy” rating and issued a $105.00 price objective (up from $103.00) on shares of Gilead Sciences in a report on Thursday, February 8th. Finally, BMO Capital Markets raised their price objective on shares of Gilead Sciences from $86.00 to $88.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $87.04.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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