First Manhattan Co. Boosts Stake in Gilead Sciences Inc. (GILD)

First Manhattan Co. Boosts Stake in Gilead Sciences Inc. (GILD)

First Manhattan Co. raised its stake in Gilead Sciences Inc. (NASDAQ:GILD) by 28.2% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,604,889 shares of the biopharmaceutical company’s stock after buying an additional 573,597 shares during the period. Gilead Sciences comprises 1.3% of First Manhattan Co.’s holdings, making the stock its 16th largest position. First Manhattan Co.’s holdings in Gilead Sciences were worth $206,098,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Gilead Sciences during the second quarter valued at $427,750,000. Capital World Investors boosted its stake in shares of Gilead Sciences by 28.3% in the second quarter. Capital World Investors now owns 15,318,948 shares of the biopharmaceutical company’s stock valued at $1,277,907,000 after buying an additional 3,380,000 shares during the period. Parnassus Investments CA boosted its stake in shares of Gilead Sciences by 45.4% in the second quarter. Parnassus Investments CA now owns 8,460,484 shares of the biopharmaceutical company’s stock valued at $705,774,000 after buying an additional 2,640,284 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Gilead Sciences by 17.0% in the second quarter. Alliancebernstein L.P. now owns 13,346,714 shares of the biopharmaceutical company’s stock valued at $1,113,383,000 after buying an additional 1,942,138 shares during the period. Finally, Beacon Investment Advisory Services Inc. boosted its stake in shares of Gilead Sciences by 9,951.3% in the second quarter. Beacon Investment Advisory Services Inc. now owns 1,653,145 shares of the biopharmaceutical company’s stock valued at $1,379,000 after buying an additional 1,636,698 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

Gilead Sciences Inc. (NASDAQ:GILD) opened at 73.64 on Tuesday. The company has a market cap of $97.02 billion, a PE ratio of 6.81 and a beta of 1.21. Gilead Sciences Inc. has a one year low of $70.83 and a one year high of $103.55. The stock has a 50 day moving average of $74.47 and a 200 day moving average of $78.66.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, November 1st. The biopharmaceutical company reported $2.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.87 by $0.12. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.47 billion. Gilead Sciences had a net margin of 47.74% and a return on equity of 100.57%. The company’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.22 earnings per share. On average, analysts anticipate that Gilead Sciences Inc. will post $11.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, December 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.55%. Gilead Sciences’s dividend payout ratio (DPR) is presently 17.44%.

Several research firms have commented on GILD. Jefferies Group raised their target price on shares of Gilead Sciences from $91.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, October 5th. Berenberg Bank began coverage on shares of Gilead Sciences in a report on Thursday, September 22nd. They issued a “buy” rating on the stock. Piper Jaffray Cos. reissued an “overweight” rating on shares of Gilead Sciences in a report on Saturday, October 22nd. Stifel Nicolaus began coverage on shares of Gilead Sciences in a report on Monday, November 14th. They issued a “buy” rating and a $100.00 target price on the stock. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Gilead Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $97.19.

In related news, insider John C. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $77.63, for a total value of $7,763,000.00. Following the transaction, the insider now directly owns 3,231,096 shares of the company’s stock, valued at approximately $250,829,982.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Madigan sold 105,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $74.86, for a total value of $7,860,300.00. Following the completion of the transaction, the director now directly owns 121,761 shares in the company, valued at $9,115,028.46. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.

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