Baird Financial Group Inc. Raises Position in Gilead Sciences, Inc. (GILD)
Baird Financial Group Inc. increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 88.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 621,894 shares of the biopharmaceutical company’s stock after buying an additional 292,671 shares during the period. Baird Financial Group Inc.’s holdings in Gilead Sciences were worth $42,239,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Parnassus Investments CA increased its position in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares in the last quarter. Bank of New York Mellon Corp increased its position in Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock valued at $2,076,368,000 after buying an additional 2,727,063 shares in the last quarter. Swiss National Bank increased its position in Gilead Sciences by 26.9% in the first quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock valued at $317,059,000 after buying an additional 989,400 shares in the last quarter. Cincinnati Financial Corp bought a new position in Gilead Sciences during the first quarter valued at approximately $63,737,000. Finally, Contrarius Investment Management Ltd increased its position in Gilead Sciences by 2,630.1% in the first quarter. Contrarius Investment Management Ltd now owns 904,865 shares of the biopharmaceutical company’s stock valued at $61,458,000 after buying an additional 871,721 shares in the last quarter. Hedge funds and other institutional investors own 74.02% of the company’s stock.
Gilead Sciences, Inc. (NASDAQ:GILD) traded down 0.31% on Friday, hitting $73.79. The stock had a trading volume of 3,729,031 shares. The company has a 50-day moving average price of $72.97 and a 200-day moving average price of $68.86. Gilead Sciences, Inc. has a 1-year low of $63.76 and a 1-year high of $82.07. The stock has a market capitalization of $96.36 billion, a price-to-earnings ratio of 8.01 and a beta of 1.21.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.45. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the company earned $3.08 EPS. Equities analysts predict that Gilead Sciences, Inc. will post $8.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s payout ratio is 22.58%.
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GILD has been the topic of several research reports. Zacks Investment Research upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Tuesday, May 2nd. BidaskClub upgraded shares of Gilead Sciences from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Vetr raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $83.66 target price for the company in a research report on Monday, June 26th. Credit Suisse Group reissued an “outperform” rating and issued a $79.00 target price on shares of Gilead Sciences in a research report on Monday, May 15th. Finally, Gabelli reissued a “buy” rating and issued a $85.00 target price on shares of Gilead Sciences in a research report on Wednesday, May 3rd. Eleven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Gilead Sciences has a consensus rating of “Buy” and an average price target of $80.64.
In other news, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $71.00, for a total value of $5,206,643.00. Following the completion of the sale, the insider now directly owns 3,199,969 shares of the company’s stock, valued at approximately $227,197,799. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregg H. Alton sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $74.00, for a total value of $2,960,000.00. Following the completion of the sale, the executive vice president now directly owns 137,488 shares of the company’s stock, valued at $10,174,112. The disclosure for this sale can be found here. Insiders sold a total of 206,666 shares of company stock valued at $15,223,184 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
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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