Verition Fund Management LLC grew its holdings in Gilead Sciences (NASDAQ:GILD) by 216.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,192 shares of the biopharmaceutical company’s stock after purchasing an additional 16,548 shares during the period. Verition Fund Management LLC’s holdings in Gilead Sciences were worth $1,733,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Welch Investments LLC acquired a new position in Gilead Sciences during the third quarter worth $108,000. Wealthcare Advisory Partners LLC acquired a new position in Gilead Sciences during the third quarter worth $133,000. Horan Capital Advisors LLC. acquired a new position in Gilead Sciences during the third quarter worth $144,000. Hanson & Doremus Investment Management increased its holdings in Gilead Sciences by 806.5% during the third quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 1,613 shares during the last quarter. Finally, Rational Advisors LLC acquired a new position in Gilead Sciences during the third quarter worth $170,000. Institutional investors own 78.35% of the company’s stock.
In related news, CFO Robin L. Washington sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $80.31, for a total transaction of $401,550.00. Following the completion of the sale, the chief financial officer now owns 23,749 shares of the company’s stock, valued at $1,907,282.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John C. Martin sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $83.56, for a total transaction of $4,178,000.00. Following the sale, the chairman now directly owns 3,046,766 shares of the company’s stock, valued at approximately $254,587,766.96. The disclosure for this sale can be found here. In the last three months, insiders sold 308,600 shares of company stock valued at $24,328,226. 1.30% of the stock is currently owned by company insiders.
Shares of Gilead Sciences stock opened at $73.70 on Friday. The stock has a market capitalization of $98,675.37, a PE ratio of 8.61, a price-to-earnings-growth ratio of -1.71 and a beta of 1.19. Gilead Sciences has a 52-week low of $63.76 and a 52-week high of $89.54. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.74 and a quick ratio of 2.67.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.11. The company had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Gilead Sciences had a net margin of 17.73% and a return on equity of 50.29%. Gilead Sciences’s quarterly revenue was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.70 earnings per share. analysts anticipate that Gilead Sciences will post 6.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Friday, March 16th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Thursday, March 15th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.52. Gilead Sciences’s payout ratio is presently 26.64%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Gilead Sciences from a “sell” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Thursday. Credit Suisse Group set a $80.00 price objective on shares of Gilead Sciences and gave the company a “hold” rating in a report on Tuesday. Barclays reiterated an “overweight” rating and issued a $95.00 price objective (up from $90.00) on shares of Gilead Sciences in a report on Tuesday, March 6th. BidaskClub downgraded shares of Gilead Sciences from a “hold” rating to a “sell” rating in a report on Saturday, March 3rd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $94.00 price objective on shares of Gilead Sciences in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $88.65.
About Gilead Sciences
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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