Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 21.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,083 shares of the biopharmaceutical company’s stock after purchasing an additional 49,600 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Gilead Sciences were worth $21,857,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Financial Group Inc. acquired a new position in Gilead Sciences in the third quarter valued at about $100,000. Reilly Financial Advisors LLC raised its stake in Gilead Sciences by 98.3% in the third quarter. Reilly Financial Advisors LLC now owns 1,420 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 704 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Gilead Sciences in the second quarter valued at about $132,000. Brand Asset Management Group Inc. acquired a new position in Gilead Sciences in the second quarter valued at about $139,000. Finally, TRUE Private Wealth Advisors acquired a new position in Gilead Sciences in the third quarter valued at about $174,000. 78.08% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on the company. Guggenheim assumed coverage on Gilead Sciences in a research note on Monday. They set a “buy” rating and a $86.00 target price for the company. BidaskClub raised Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Tuesday, December 4th. ValuEngine raised Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Oppenheimer reissued a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, November 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, November 14th. Eleven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $88.49.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.21. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Gilead Sciences had a return on equity of 39.32% and a net margin of 7.12%. During the same period in the previous year, the business posted $2.27 earnings per share. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 6.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Thursday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 26.64%.
In other news, Director John C. Martin sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $69.55, for a total transaction of $3,477,500.00. Following the sale, the director now directly owns 3,067,762 shares in the company, valued at $213,362,847.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 150,000 shares of company stock worth $10,939,500. Company insiders own 1.16% of the company’s stock.
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Gilead Sciences Company Profile
Gilead Sciences, Inc discovers, develops, and commercializes therapeutics 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, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
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