Shelter Ins Retirement Plan reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.1% during the 3rd quarter, Holdings Channel reports. The fund owned 42,800 shares of the biopharmaceutical company’s stock after selling 2,300 shares during the quarter. Shelter Ins Retirement Plan’s holdings in Gilead Sciences were worth $3,468,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Gilead Sciences during the 2nd quarter worth approximately $147,000. Hanson & Doremus Investment Management increased its stake in Gilead Sciences by 806.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 1,613 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in Gilead Sciences by 29.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,120 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 480 shares during the period. Rowland & Co. Investment Counsel ADV purchased a new stake in Gilead Sciences during the 2nd quarter worth approximately $153,000. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new stake in Gilead Sciences during the 2nd quarter worth approximately $172,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.
GILD has been the topic of several recent research reports. Berenberg Bank set a $96.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Thursday, October 19th. Royal Bank of Canada initiated coverage on shares of Gilead Sciences in a research note on Thursday, September 14th. They set an “outperform” rating and a $94.00 target price on the stock. JPMorgan Chase & Co. set a $85.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $82.00 target price on shares of Gilead Sciences in a research note on Thursday, December 7th. Finally, Zacks Investment Research downgraded shares of Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.03.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the business posted $2.75 EPS. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. sell-side analysts expect that Gilead Sciences, Inc. will post 8.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 15th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Thursday, December 14th. Gilead Sciences’s payout ratio is 23.66%.
In other news, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $74.82, for a total value of $1,122,300.00. Following the completion of the transaction, the executive vice president now owns 77,363 shares in the company, valued at approximately $5,788,299.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John F. Milligan sold 220,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $72.88, for a total transaction of $16,033,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 461,666 shares of company stock valued at $34,072,567. Company insiders own 1.30% of the company’s stock.
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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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