1,003,135 Shares in Gilead Sciences, Inc. $GILD Bought by Korea Investment CORP

Korea Investment CORP purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,003,135 shares of the biopharmaceutical company’s stock, valued at approximately $126,736,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences in the fourth quarter valued at $25,000. Persistent Asset Partners Ltd bought a new stake in shares of Gilead Sciences during the second quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Gilead Sciences by 71.4% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 85 shares in the last quarter. Quattro Advisors LLC purchased a new stake in shares of Gilead Sciences in the fourth quarter worth about $26,000. Finally, Wealth Preservation Advisors LLC grew its stake in Gilead Sciences by 60.0% during the fourth quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 81 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Price Performance

GILD stock opened at $146.12 on Friday. The firm has a market cap of $181.18 billion, a P/E ratio of -54.73 and a beta of 0.32. The firm’s fifty day moving average is $131.97 and its 200 day moving average is $136.59. Gilead Sciences, Inc. has a 52 week low of $108.46 and a 52 week high of $157.29. 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 (NASDAQ:GILD) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share 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 business 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 posted $2.01 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts predict that Gilead Sciences, Inc. will post -0.51 earnings per share for the current year.

Gilead Sciences Announces Dividend

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

Insider Activity

In related news, CFO Andrew D. Dickinson sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $138.36, for a total value of $415,080.00. Following the sale, the chief financial officer directly owned 165,646 shares of the company’s stock, valued at $22,918,780.56. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $130.31, for a total value of $1,954,650.00. Following the transaction, the chief executive officer owned 592,133 shares in the company, valued at approximately $77,160,851.23. This represents a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,000 shares of company stock valued at $11,562,960 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GILD shares. Maxim Group upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Wednesday, May 20th. Morgan Stanley reduced their price target on shares of Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, July 27th. HSBC raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and upped their price target for the stock from $133.00 to $155.00 in a report on Monday, July 6th. Weiss Ratings downgraded Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $170.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $158.04.

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.