Massey Quick Simon & CO. LLC boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 40.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,726 shares of the biopharmaceutical company’s stock after purchasing an additional 786 shares during the period. Massey Quick Simon & CO. LLC’s holdings in Gilead Sciences were worth $173,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in GILD. Nuveen Asset Management LLC lifted its stake in Gilead Sciences by 1,208.1% during the second quarter. Nuveen Asset Management LLC now owns 9,847,359 shares of the biopharmaceutical company’s stock valued at $665,288,000 after purchasing an additional 9,094,586 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Gilead Sciences by 56.9% during the second quarter. Renaissance Technologies LLC now owns 12,740,248 shares of the biopharmaceutical company’s stock valued at $860,731,000 after purchasing an additional 4,620,000 shares during the last quarter. Invesco Ltd. lifted its stake in Gilead Sciences by 17.5% during the second quarter. Invesco Ltd. now owns 22,975,310 shares of the biopharmaceutical company’s stock valued at $1,552,213,000 after purchasing an additional 3,418,193 shares during the last quarter. Marshall Wace North America L.P. lifted its stake in Gilead Sciences by 298.3% during the second quarter. Marshall Wace North America L.P. now owns 3,418,196 shares of the biopharmaceutical company’s stock valued at $230,934,000 after purchasing an additional 2,559,972 shares during the last quarter. Finally, Miller Howard Investments Inc. NY acquired a new stake in Gilead Sciences during the second quarter valued at approximately $93,386,000. 79.67% of the stock is owned by institutional investors and hedge funds.
GILD stock traded up $0.29 during trading on Wednesday, hitting $65.59. 1,807,810 shares of the stock traded hands, compared to its average volume of 5,795,885. Gilead Sciences, Inc. has a one year low of $60.32 and a one year high of $76.44. The stock has a market cap of $83.05 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 3.03 and a beta of 1.10. The company has a 50 day simple moving average of $64.23 and a 200 day simple moving average of $65.36. The company has a current ratio of 3.76, a quick ratio of 3.67 and a debt-to-equity ratio of 1.13.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.14. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The firm had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the firm posted $1.91 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts predict that Gilead Sciences, Inc. will post 6.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Thursday, September 12th. Gilead Sciences’s dividend payout ratio is currently 40.98%.
Several equities research analysts recently commented on the stock. Cantor Fitzgerald set a $88.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Monday, July 15th. Wells Fargo & Co upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the company from $68.00 to $88.00 in a research report on Monday, July 15th. JPMorgan Chase & Co. restated a “buy” rating and issued a $85.00 price target on shares of Gilead Sciences in a research report on Wednesday, July 31st. Royal Bank of Canada upgraded shares of Gilead Sciences from an “outperform” rating to a “top pick” rating and set a $91.00 price target for the company in a research report on Monday, July 29th. Finally, Jefferies Financial Group set a $95.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $82.24.
In other Gilead Sciences news, EVP Brett A. Pletcher sold 608 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $64.35, for a total value of $39,124.80. Following the completion of the sale, the executive vice president now owns 27,198 shares in the company, valued at approximately $1,750,191.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brett A. Pletcher sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $65.07, for a total transaction of $468,504.00. Following the completion of the sale, the executive vice president now owns 34,398 shares of the company’s stock, valued at approximately $2,238,277.86. The disclosure for this sale can be found here. Insiders have sold a total of 12,716 shares of company stock valued at $821,299 over the last three months. 0.20% of the stock is currently owned by insiders.
About Gilead Sciences
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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