2,455,920 Shares in Gilead Sciences, Inc. $GILD Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,455,920 shares of the biopharmaceutical company’s stock, valued at approximately $310,281,000. Canada Pension Plan Investment Board owned approximately 0.20% of Gilead Sciences at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Aviva PLC boosted its stake in shares of Gilead Sciences by 5.4% during the fourth quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company’s stock valued at $141,978,000 after acquiring an additional 59,782 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $1,418,000. Bank of Nova Scotia purchased a new stake in shares of Gilead Sciences during the second quarter worth about $100,056,000. Flputnam Investment Management Co. raised its position in shares of Gilead Sciences by 66.5% in the fourth quarter. Flputnam Investment Management Co. now owns 105,740 shares of the biopharmaceutical company’s stock valued at $12,978,000 after buying an additional 42,243 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Gilead Sciences by 14.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 106,526 shares of the biopharmaceutical company’s stock valued at $13,075,000 after buying an additional 13,385 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the sale, the insider directly owned 118,234 shares in the company, valued at approximately $16,273,727.76. This trade represents a 19.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the transaction, the director owned 10,066 shares of the company’s stock, valued at approximately $1,459,771.32. This represents a 33.19% 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. In the last ninety days, insiders have sold 87,000 shares of company stock worth $11,562,960. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank Of Canada boosted their price target on Gilead Sciences from $120.00 to $123.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Weiss Ratings lowered Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Finally, Rothschild & Co Redburn decreased their price target on shares of Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. Twenty-four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.04.

Gilead Sciences Trading Up 1.4%

NASDAQ GILD opened at $148.77 on Wednesday. The firm has a market capitalization of $184.47 billion, a price-to-earnings ratio of -55.72 and a beta of 0.32. 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, Inc. has a one year low of $108.46 and a one year high of $157.29. The company’s 50 day moving average price is $132.85 and its 200 day moving average price is $136.59.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. Gilead Sciences’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts predict that Gilead Sciences, Inc. will post -0.5 EPS for the current year.

Gilead Sciences Dividend Announcement

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

Gilead Sciences 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.