Meeder Asset Management Inc. lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,070 shares of the biopharmaceutical company’s stock after purchasing an additional 5,841 shares during the period. Meeder Asset Management Inc.’s holdings in Gilead Sciences were worth $7,726,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in Gilead Sciences by 11.6% during the second quarter. Bank of New York Mellon Corp now owns 30,936,970 shares of the biopharmaceutical company’s stock worth $2,191,575,000 after acquiring an additional 3,221,439 shares during the last quarter. Northern Trust Corp raised its position in Gilead Sciences by 2.0% during the second quarter. Northern Trust Corp now owns 16,823,192 shares of the biopharmaceutical company’s stock worth $1,191,754,000 after acquiring an additional 325,246 shares during the last quarter. Sanders Capital LLC raised its position in Gilead Sciences by 7.0% during the second quarter. Sanders Capital LLC now owns 10,579,575 shares of the biopharmaceutical company’s stock worth $804,126,000 after acquiring an additional 696,200 shares during the last quarter. Boston Partners raised its position in Gilead Sciences by 3.1% during the second quarter. Boston Partners now owns 8,290,507 shares of the biopharmaceutical company’s stock worth $587,300,000 after acquiring an additional 245,805 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in Gilead Sciences by 0.3% during the second quarter. OppenheimerFunds Inc. now owns 7,038,387 shares of the biopharmaceutical company’s stock worth $498,599,000 after acquiring an additional 22,916 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.
A number of equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. ValuEngine downgraded shares of Gilead Sciences from a “hold” rating to a “sell” rating in a report on Monday, August 20th. Mizuho set a $94.00 price target on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, Cantor Fitzgerald lifted their price target on shares of Gilead Sciences from $87.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, October 26th. Thirteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $87.84.
Shares of NASDAQ:GILD opened at $69.58 on Tuesday. The firm has a market cap of $90.02 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of -2.69 and a beta of 1.01. Gilead Sciences, Inc. has a 1-year low of $64.27 and a 1-year high of $89.54. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.39 and a current ratio of 3.47.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.63 by $0.21. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.44 billion. Gilead Sciences had a net margin of 7.12% and a return on equity of 39.32%. During the same quarter in the prior year, the firm earned $2.27 earnings per share. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 6.44 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.28 dividend on an annualized basis and a yield of 3.28%. Gilead Sciences’s dividend payout ratio is presently 26.64%.
In related news, Director John C. Martin sold 50,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $69.55, for a total value of $3,477,500.00. Following the completion of the transaction, the director now owns 3,067,762 shares in the company, valued at approximately $213,362,847.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 150,000 shares of company stock valued at $11,087,500 in the last quarter. 1.16% of the stock is currently owned by insiders.
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Gilead Sciences Company Profile
Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
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