Canada Pension Plan Investment Board Takes $310.28 Million Position in Gilead Sciences, Inc. $GILD

Canada Pension Plan Investment Board purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 2,455,920 shares of the biopharmaceutical company’s stock, valued at approximately $310,281,000.

Other hedge funds have also recently bought and sold shares of the company. Castleark Management LLC purchased a new stake in Gilead Sciences during the 2nd quarter worth approximately $66,650,000. Legal & General Group Plc acquired a new stake in Gilead Sciences in the second quarter valued at $1,316,606,000. The Manufacturers Life Insurance Company bought a new position in Gilead Sciences during the 2nd quarter valued at $138,214,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in Gilead Sciences during the 2nd quarter worth $764,000. Finally, Van Hulzen Asset Management LLC bought a new stake in shares of Gilead Sciences in the 2nd quarter worth about $1,031,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Up 1.4%

NASDAQ:GILD opened at $148.77 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The stock has a 50 day moving average of $132.85 and a 200-day moving average of $136.59. The firm has a market capitalization of $184.47 billion, a PE ratio of -55.72 and a beta of 0.32. Gilead Sciences, Inc. has a 52 week low of $108.46 and a 52 week high of $157.29.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter last year, the business posted $2.01 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Analysts predict that Gilead Sciences, Inc. will post -0.5 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. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. Gilead Sciences’s payout ratio is -122.85%.

Analyst Ratings Changes

Several equities analysts have recently commented on GILD shares. Rothschild & Co Redburn reduced their price target on shares of Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 target price on shares of Gilead Sciences in a report on Wednesday, August 5th. Needham & Company LLC reiterated a “buy” rating and issued a $170.00 price target on shares of Gilead Sciences in a report on Wednesday, August 5th. Truist Financial reduced their price objective on Gilead Sciences from $157.00 to $156.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Twenty-four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.04.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the firm’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 sale, the insider owned 118,234 shares in the company, valued at approximately $16,273,727.76. This trade represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $138.36, for a total value of $415,080.00. Following the completion of the transaction, the chief financial officer directly owned 165,646 shares of the company’s stock, valued at $22,918,780.56. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 87,000 shares of company stock worth $11,562,960. 0.30% of the stock is owned by insiders.

About Gilead Sciences

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.