Todays Report: The Exxonmobil Investment Management Inc. TX Reduces Stake in Gilead Sciences Inc. (GILD)

The Exxonmobil Investment Management Inc. TX Reduces Stake in Gilead Sciences Inc. (GILD)

Exxonmobil Investment Management Inc. TX lowered its stake in Gilead Sciences Inc. (NASDAQ:GILD) by 2.3% during the third quarter, Holdings Channel reports. The institutional investor owned 336,956 shares of the biopharmaceutical company’s stock after selling 7,786 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Gilead Sciences were worth $26,660,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can acquired a new position in Gilead Sciences during the second quarter valued at approximately $427,750,000. Capital World Investors increased its position in Gilead Sciences by 28.3% in the second quarter. Capital World Investors now owns 15,318,948 shares of the biopharmaceutical company’s stock valued at $1,277,907,000 after buying an additional 3,380,000 shares during the last quarter. Parnassus Investments CA increased 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 valued at $705,774,000 after buying an additional 2,640,284 shares during the last quarter. Alliancebernstein L.P. increased its position in Gilead Sciences by 17.0% in the second quarter. Alliancebernstein L.P. now owns 13,346,714 shares of the biopharmaceutical company’s stock valued at $1,113,383,000 after buying an additional 1,942,138 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its position in Gilead Sciences by 9,951.3% in the second quarter. Beacon Investment Advisory Services Inc. now owns 1,653,145 shares of the biopharmaceutical company’s stock valued at $1,379,000 after buying an additional 1,636,698 shares during the last quarter. Institutional investors and hedge funds own 76.65% of the company’s stock.

Gilead Sciences Inc. (NASDAQ:GILD) traded up 0.19% during midday trading on Friday, reaching $75.44. 3,068,606 shares of the company traded hands. The stock has a market capitalization of $99.39 billion, a P/E ratio of 6.98 and a beta of 1.25. Gilead Sciences Inc. has a 12-month low of $71.39 and a 12-month high of $108.63. The company has a 50 day moving average of $74.56 and a 200-day moving average of $80.20.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, November 1st. The biopharmaceutical company reported $2.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.87 by $0.12. Gilead Sciences had a return on equity of 100.57% and a net margin of 47.74%. The firm had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.47 billion. During the same quarter last year, the company earned $3.22 earnings per share. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts anticipate that Gilead Sciences Inc. will post $11.47 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Tuesday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 17.44%.

Several brokerages have recently issued reports on GILD. Royal Bank Of Canada raised their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, October 3rd. Bank of America Corp. reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Gilead Sciences in a research report on Sunday, September 25th. Stifel Nicolaus began coverage on Gilead Sciences in a research report on Monday, November 14th. They issued a “buy” rating and a $100.00 price target on the stock. They noted that the move was a valuation call. Leerink Swann set a $112.00 price target on Gilead Sciences and gave the company a “buy” rating in a research report on Thursday, September 22nd. Finally, Mizuho began coverage on Gilead Sciences in a research report on Monday, November 7th. They issued a “buy” rating and a $88.00 price target on the stock. Ten research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $97.90.

In other Gilead Sciences news, EVP Gregg H. Alton sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $81.84, for a total value of $409,200.00. Following the completion of the sale, the executive vice president now directly owns 132,964 shares in the company, valued at $10,881,773.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Madigan sold 105,000 shares of the firm’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $74.86, for a total transaction of $7,860,300.00. Following the completion of the sale, the director now owns 121,761 shares of the company’s stock, valued at $9,115,028.46. The disclosure for this sale can be found here. 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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