Quantbot Technologies LP trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 53.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,307 shares of the biopharmaceutical company’s stock after selling 26,271 shares during the quarter. Quantbot Technologies LP’s holdings in Gilead Sciences were worth $1,888,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Gilead Sciences in the second quarter worth approximately $147,000. Hanson & Doremus Investment Management boosted its position in shares of Gilead Sciences by 806.5% in the third quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 1,613 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Gilead Sciences by 29.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,120 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 480 shares during the period. Rowland & Co. Investment Counsel ADV bought a new position in shares of Gilead Sciences in the second quarter worth approximately $153,000. Finally, Capstone Investment Advisors Netherlands B.V. bought a new position in shares of Gilead Sciences in the second quarter worth approximately $172,000. Institutional investors own 75.95% of the company’s stock.
A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Co upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $79.02 to $96.00 in a research report on Tuesday. Mizuho reiterated a “buy” rating on shares of Gilead Sciences in a research report on Friday, September 29th. BMO Capital Markets reiterated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, January 3rd. Finally, Credit Suisse Group set a $80.00 price target on shares of Gilead Sciences and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $85.61.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.14. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.40 billion. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. Gilead Sciences’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.75 earnings per share. analysts expect that Gilead Sciences, Inc. will post 8.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Friday, December 15th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, December 14th. Gilead Sciences’s payout ratio is 23.69%.
In related news, EVP Gregg H. Alton sold 30,000 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $79.00, for a total transaction of $2,370,000.00. Following the sale, the executive vice president now owns 57,114 shares of the company’s stock, valued at $4,512,006. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Milligan sold 220,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $72.88, for a total transaction of $16,033,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 491,666 shares of company stock worth $36,442,567. 1.30% of the stock is owned by insiders.
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Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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