Sumitomo Mitsui Asset Management Company LTD Has $8.09 Million Stake in Gilead Sciences, Inc. (GILD)
Sumitomo Mitsui Asset Management Company LTD reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,873 shares of the biopharmaceutical company’s stock after selling 3,708 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Gilead Sciences were worth $8,091,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Gilead Sciences during the second quarter worth about $147,000. Hanson & Doremus Investment Management boosted its holdings in Gilead Sciences by 806.5% during the third quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 1,613 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Gilead Sciences by 29.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,120 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 480 shares during the last quarter. Rowland & Co. Investment Counsel ADV purchased a new position in Gilead Sciences during the second quarter worth about $153,000. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new position in Gilead Sciences during the second quarter worth about $172,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.
Shares of Gilead Sciences, Inc. (GILD) opened at $72.70 on Wednesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.56 and a current ratio of 3.68. The firm has a market cap of $94,978.82, a P/E ratio of 8.28, a P/E/G ratio of -1.22 and a beta of 1.13. Gilead Sciences, Inc. has a twelve month low of $63.76 and a twelve month high of $86.27.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.14. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.40 billion. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. Gilead Sciences’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.75 EPS. analysts forecast that Gilead Sciences, Inc. will post 8.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.86%. Gilead Sciences’s dividend payout ratio is presently 23.69%.
In other Gilead Sciences news, EVP Gregg H. Alton sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $82.65, for a total value of $2,066,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John C. Martin sold 73,333 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $74.98, for a total transaction of $5,498,508.34. Following the completion of the transaction, the insider now directly owns 3,070,099 shares of the company’s stock, valued at approximately $230,196,023.02. The disclosure for this sale can be found here. In the last three months, insiders sold 494,999 shares of company stock valued at $37,404,139. Corporate insiders own 1.30% of the company’s stock.
Several research analysts recently weighed in on the stock. ValuEngine upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 7th. TheStreet upgraded shares of Gilead Sciences from a “c+” rating to a “b-” rating in a report on Thursday, September 7th. Zacks Investment Research cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Vetr cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and set a $86.44 price target on the stock. in a report on Monday, September 4th. Finally, Morgan Stanley restated an “equal weight” rating and set a $83.00 price target (up from $77.00) on shares of Gilead Sciences in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Gilead Sciences has an average rating of “Buy” and an average price target of $85.03.
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Gilead Sciences Company 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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