Te Ahumairangi Investment Management Ltd Makes New $6.18 Million Investment in Gilead Sciences, Inc. $GILD

Te Ahumairangi Investment Management Ltd purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,936 shares of the biopharmaceutical company’s stock, valued at approximately $6,183,000.

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

Insider Activity

In related news, CEO Daniel Patrick O’day sold 15,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the completion of the transaction, the chief executive officer directly owned 592,133 shares of the company’s stock, valued at $77,160,851.23. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 Gilead Sciences stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $138.36, for a total value of $415,080.00. Following the completion of the sale, the chief financial officer directly owned 165,646 shares in the company, valued at $22,918,780.56. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 87,000 shares of company stock valued at $11,562,960. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GILD has been the subject of several recent analyst reports. Barclays decreased their target price on Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. HSBC upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and upped their target price for the company from $133.00 to $155.00 in a report on Monday, July 6th. Rothschild & Co Redburn cut their price target on shares of Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. Leerink Partners cut shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $146.00 to $127.00 in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $158.04.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $146.12 on Monday. The stock has a market capitalization of $181.18 billion, a price-to-earnings ratio of -54.73 and a beta of 0.32. Gilead Sciences, Inc. has a one year low of $108.46 and a one year high of $157.29. The company has a 50-day simple moving average of $131.97 and a 200-day simple moving average of $136.55. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27.

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

Gilead Sciences Announces Dividend

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

Gilead Sciences Company 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.