Hudson Canyon Investment Counselors LLC raised its stake in Gilead Sciences Inc. (NASDAQ:GILD) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,718 shares of the biopharmaceutical company’s stock after buying an additional 1,619 shares during the period. Gilead Sciences accounts for about 2.1% of Hudson Canyon Investment Counselors LLC’s portfolio, making the stock its 5th largest position. Hudson Canyon Investment Counselors LLC’s holdings in Gilead Sciences were worth $1,812,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Temasek Holdings Private Ltd increased its stake 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 valued at $1,270,471,000 after buying an additional 1,035,592 shares during the last quarter. Geode Capital Management LLC increased its stake 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 valued at $1,137,969,000 after buying an additional 161,505 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Gilead Sciences during the second quarter valued at $427,750,000. Canada Pension Plan Investment Board increased its stake 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 valued at $455,258,000 after buying an additional 669,800 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake 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 valued at $350,575,000 after buying an additional 410,120 shares during the last quarter. 78.00% of the stock is currently owned by institutional investors.
Gilead Sciences Inc. (NASDAQ:GILD) traded down 0.15% on Monday, hitting $72.64. 8,181,411 shares of the stock were exchanged. Gilead Sciences Inc. has a one year low of $72.21 and a one year high of $111.11. The company has a market cap of $95.86 billion, a P/E ratio of 6.38 and a beta of 1.10. The company’s 50 day moving average price is $77.72 and its 200-day moving average price is $84.20.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.06. The business earned $7.78 billion during the quarter, compared to analyst estimates of $7.80 billion. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The firm’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.15 earnings per share. Equities research analysts predict that Gilead Sciences Inc. will post $11.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is 16.56%.
Several analysts have recently weighed in on GILD shares. Royal Bank Of Canada lifted their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, October 3rd. Jefferies Group lowered their target price on shares of Gilead Sciences from $93.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, August 31st. Zacks Investment Research raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $108.00 target price on shares of Gilead Sciences in a report on Wednesday, August 31st. Finally, Leerink Swann set a $112.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a report on Thursday, September 22nd. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $103.60.
In other news, Director Kevin E. Lofton sold 3,500 shares of the stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Rutherford Carter sold 2,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $79.81, for a total transaction of $159,620.00. Following the completion of the sale, the executive vice president now directly owns 64,122 shares of the company’s stock, valued at $5,117,576.82. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
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.