Cibc World Market Inc. Takes $42.70 Million Position in Gilead Sciences, Inc. $GILD

Cibc World Market Inc. bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 338,002 shares of the biopharmaceutical company’s stock, valued at approximately $42,703,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock worth $1,326,000 after purchasing an additional 2,450 shares during the last quarter. Bison Wealth LLC bought a new position in Gilead Sciences during the 4th quarter valued at $215,000. Sivia Capital Partners LLC grew its holdings in Gilead Sciences by 16.8% during the second quarter. Sivia Capital Partners LLC now owns 4,182 shares of the biopharmaceutical company’s stock worth $464,000 after acquiring an additional 602 shares during the period. Ieq Capital LLC grew its stake in shares of Gilead Sciences by 12.0% in the 2nd quarter. Ieq Capital LLC now owns 118,695 shares of the biopharmaceutical company’s stock worth $13,160,000 after purchasing an additional 12,705 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in Gilead Sciences by 18.6% in the second quarter. Diversify Advisory Services LLC now owns 4,296 shares of the biopharmaceutical company’s stock worth $516,000 after buying an additional 674 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $146.12 on Monday. Gilead Sciences, Inc. has a 52-week low of $108.46 and a 52-week high of $157.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The firm has a market capitalization of $181.18 billion, a PE ratio of -54.73 and a beta of 0.32. The company’s fifty day moving average price is $131.97 and its two-hundred day moving average price is $136.55.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. The firm had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.01 earnings per share. On average, analysts expect that Gilead Sciences, Inc. will post -0.51 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is currently -122.85%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GILD shares. Wall Street Zen raised Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Needham & Company LLC reiterated a “buy” rating and set a $170.00 price objective on shares of Gilead Sciences in a report on Wednesday, August 5th. Truist Financial reduced their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Finally, Weiss Ratings downgraded shares of Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.04.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 28,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the completion of the transaction, the insider owned 118,234 shares in the company, valued at $16,273,727.76. The trade was a 19.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total value of $1,954,650.00. Following the transaction, the chief executive officer directly owned 592,133 shares in the company, valued at $77,160,851.23. This trade represents a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,000 shares of company stock valued at $11,562,960 over the last quarter. 0.30% of the stock is owned by insiders.

Gilead Sciences Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.