Trade Report: Today: Dock Street Asset Management Inc. Acquires 13,525 Shares of Gilead Sciences Inc. (GILD)

Today: Dock Street Asset Management Inc. Acquires 13,525 Shares of Gilead Sciences Inc. (GILD)

Dock Street Asset Management Inc. raised its position in Gilead Sciences Inc. (NASDAQ:GILD) by 310.9% during the second quarter, Holdings Channel reports. The fund owned 17,875 shares of the biopharmaceutical company’s stock after buying an additional 13,525 shares during the period. Gilead Sciences comprises approximately 1.3% of Dock Street Asset Management Inc.’s holdings, making the stock its 18th largest position. Dock Street Asset Management Inc.’s holdings in Gilead Sciences were worth $1,491,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Temasek Holdings Private Ltd increased its position in shares of Gilead Sciences by 8.1% in the first quarter. Temasek Holdings Private Ltd now owns 13,830,516 shares of the biopharmaceutical company’s stock worth $1,270,471,000 after buying an additional 1,035,592 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Gilead Sciences by 1.3% in the first quarter. Geode Capital Management LLC now owns 12,410,846 shares of the biopharmaceutical company’s stock worth $1,137,969,000 after buying an additional 161,505 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Gilead Sciences during the second quarter worth about $427,750,000. Canada Pension Plan Investment Board increased its position in shares of Gilead Sciences by 15.6% in the first quarter. Canada Pension Plan Investment Board now owns 4,955,996 shares of the biopharmaceutical company’s stock worth $455,258,000 after buying an additional 669,800 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Gilead Sciences by 12.0% in the first quarter. Prudential Financial Inc. now owns 3,816,408 shares of the biopharmaceutical company’s stock worth $350,575,000 after buying an additional 410,120 shares during the last quarter. 77.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of Gilead Sciences Inc. (NASDAQ:GILD) traded down 0.42% during midday trading on Friday, reaching $72.75. 7,359,055 shares of the company traded hands. Gilead Sciences Inc. has a 12 month low of $72.21 and a 12 month high of $111.11. The firm has a market capitalization of $96.01 billion, a P/E ratio of 6.38 and a beta of 1.10. The company has a 50 day moving average of $77.93 and a 200 day moving average of $84.45.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.06. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The company earned $7.78 billion during the quarter, compared to analyst estimates of $7.80 billion. During the same quarter in the prior year, the business earned $3.15 earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts predict that Gilead Sciences Inc. will post $11.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.88 dividend on an annualized basis and a yield of 2.58%. Gilead Sciences’s dividend payout ratio (DPR) is 16.56%.

Several equities analysts recently issued reports on the company. Piper Jaffray Cos. set a $108.00 target price on Gilead Sciences and gave the company a “buy” rating in a research report on Sunday, August 21st. Jefferies Group reissued a “hold” rating and issued a $96.00 target price on shares of Gilead Sciences in a research report on Wednesday, June 29th. RBC Capital Markets reissued an “outperform” rating and issued a $105.00 target price (down from $120.00) on shares of Gilead Sciences in a research report on Tuesday, July 26th. Leerink Swann reissued an “outperform” rating and issued a $127.00 target price on shares of Gilead Sciences in a research report on Wednesday, June 29th. Finally, Zacks Investment Research raised Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Gilead Sciences has a consensus rating of “Buy” and a consensus price target of $103.78.

In other news, Director Kevin E. Lofton sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $81.97, for a total value of $286,895.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John C. Martin sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $80.50, for a total transaction of $8,050,000.00. Following the completion of the transaction, the insider now owns 4,119,727 shares in the company, valued at $331,638,023.50. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.

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