The Manufacturers Life Insurance Company increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 50.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,191,622 shares of the biopharmaceutical company’s stock after purchasing an additional 2,062,886 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.47% of Gilead Sciences worth $438,244,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Penserra Capital Management LLC boosted its stake in Gilead Sciences by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 144 shares during the last quarter. American Beacon Advisors Inc. acquired a new position in Gilead Sciences during the first quarter worth $143,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Gilead Sciences during the second quarter worth $147,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Gilead Sciences by 29.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,120 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 480 shares during the last quarter. Finally, Capstone Investment Advisors Netherlands B.V. acquired a new position in Gilead Sciences during the second quarter worth $172,000. Hedge funds and other institutional investors own 76.23% of the company’s stock.
Gilead Sciences, Inc. (GILD) opened at $74.22 on Monday. Gilead Sciences, Inc. has a 12 month low of $63.76 and a 12 month high of $86.27. The company has a market capitalization of $96,951.29, a price-to-earnings ratio of 7.75, a PEG ratio of -1.24 and a beta of 1.13. The company has a quick ratio of 3.56, a current ratio of 3.68 and a debt-to-equity ratio of 1.10.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be issued a $0.52 dividend. The ex-dividend date is Thursday, December 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.80%. Gilead Sciences’s dividend payout ratio is presently 23.69%.
A number of equities analysts have weighed in on GILD shares. TheStreet raised Gilead Sciences from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Deutsche Bank reissued a “buy” rating and set a $81.00 price objective on shares of Gilead Sciences in a research note on Thursday, August 31st. Argus raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Thursday, August 31st. Berenberg Bank set a $86.00 price objective on Gilead Sciences and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Finally, Vetr lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $82.15 price objective on the stock. in a research note on Monday, August 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $85.11.
In related news, insider John F. Milligan sold 220,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $72.88, for a total value of $16,033,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregg H. Alton sold 25,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $82.65, for a total value of $2,066,250.00. The disclosure for this sale can be found here. Insiders sold a total of 494,999 shares of company stock worth $37,404,139 in the last quarter. Company insiders own 1.30% of the company’s stock.
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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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