Korea Investment CORP Raises Position in Gilead Sciences, Inc. (GILD)
Korea Investment CORP lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,070,484 shares of the biopharmaceutical company’s stock after purchasing an additional 2,798 shares during the period. Korea Investment CORP owned 0.08% of Gilead Sciences worth $75,769,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Gilead Sciences by 583.3% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 1,400 shares during the period. Dubuque Bank & Trust Co. grew its holdings in Gilead Sciences by 19.4% during the 1st quarter. Dubuque Bank & Trust Co. now owns 1,642 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 267 shares during the period. Penserra Capital Management LLC grew its holdings in Gilead Sciences by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 144 shares during the period. Webster Bank N. A. grew its holdings in Gilead Sciences by 51.7% during the 1st quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock worth $125,000 after acquiring an additional 624 shares during the period. Finally, American Beacon Advisors Inc. acquired a new stake in Gilead Sciences during the 1st quarter worth $143,000. 73.99% of the stock is owned by institutional investors and hedge funds.
In related news, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $82.56, for a total transaction of $6,054,372.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James R. Meyers sold 60,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $83.19, for a total transaction of $4,991,400.00. Following the transaction, the executive vice president now directly owns 62,715 shares in the company, valued at $5,217,260.85. The disclosure for this sale can be found here. Insiders have sold 486,819 shares of company stock worth $39,298,919 over the last three months. 1.30% of the stock is owned by insiders.
Shares of Gilead Sciences, Inc. (GILD) opened at 82.42 on Thursday. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $86.27. The stock has a 50 day moving average of $80.40 and a 200-day moving average of $71.48. The company has a market capitalization of $107.63 billion, a PE ratio of 8.95 and a beta of 1.14.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the firm earned $3.08 earnings per share. The firm’s revenue was down 8.2% on a year-over-year basis. On average, equities analysts forecast that Gilead Sciences, Inc. will post $8.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 15th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Thursday, September 14th. Gilead Sciences’s payout ratio is currently 22.58%.
A number of analysts have commented on the stock. Jefferies Group LLC assumed coverage on shares of Gilead Sciences in a report on Thursday. They set a “positive” rating for the company. Bank of America Corporation lowered their target price on shares of Gilead Sciences from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday. Mizuho reaffirmed a “buy” rating on shares of Gilead Sciences in a report on Friday, September 29th. Leerink Swann reaffirmed a “market perform” rating and set a $87.00 target price (up previously from $82.00) on shares of Gilead Sciences in a report on Wednesday, September 20th. Finally, Royal Bank Of Canada assumed coverage on shares of Gilead Sciences in a report on Thursday, September 14th. They set an “outperform” rating and a $94.00 target price for the company. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $85.36.
Gilead Sciences Profile
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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