Todays Report: The Virginia Retirement Systems ET AL Invests $39,608,000 in Gilead Sciences Inc. (GILD)

The Virginia Retirement Systems ET AL Invests $39,608,000 in Gilead Sciences Inc. (GILD)

Virginia Retirement Systems ET AL bought a new position in Gilead Sciences Inc. (NASDAQ:GILD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 474,800 shares of the biopharmaceutical company’s stock, valued at approximately $39,608,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Gilead Sciences by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 26,617,229 shares of the biopharmaceutical company’s stock worth $2,220,410,000 after buying an additional 1,023,299 shares during the last quarter. Temasek Holdings Private Ltd raised its position in 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 raised its position in 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. Parnassus Investments CA raised its position in Gilead Sciences by 45.4% in the second quarter. Parnassus Investments CA now owns 8,460,484 shares of the biopharmaceutical company’s stock worth $705,774,000 after buying an additional 2,640,284 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Gilead Sciences during the second quarter worth $427,750,000. 77.94% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Inc. (NASDAQ:GILD) opened at 75.24 on Friday. The company has a 50 day moving average of $78.95 and a 200-day moving average of $85.05. Gilead Sciences Inc. has a 52-week low of $74.92 and a 52-week high of $111.11. The stock has a market capitalization of $99.29 billion, a P/E ratio of 6.60 and a beta of 1.10.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.06. The firm had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $7.80 billion. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. Gilead Sciences’s revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.15 earnings per share. Equities research analysts anticipate that Gilead Sciences Inc. will post $11.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were given 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 2.50%. Gilead Sciences’s dividend payout ratio (DPR) is 16.56%.

A number of equities analysts recently weighed in on the stock. Jefferies Group boosted their price target on shares of Gilead Sciences from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday. RBC Capital Markets restated a “buy” rating and set a $95.00 price target (down from $105.00) on shares of Gilead Sciences in a research report on Monday, October 3rd. Royal Bank Of Canada boosted their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 3rd. Leerink Swann restated an “outperform” rating and set a $112.00 price target on shares of Gilead Sciences in a research report on Friday, September 30th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Tuesday, September 27th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Gilead Sciences currently has a consensus rating of “Buy” and a consensus price target of $104.71.

In other Gilead Sciences news, insider John F. Milligan sold 70,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $77.74, for a total transaction of $5,441,800.00. Following the transaction, the insider now directly owns 1,128,963 shares of the company’s stock, valued at $87,765,583.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John C. Martin sold 100,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $80.50, for a total transaction of $8,050,000.00. Following the transaction, the insider now directly 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

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