Zurich Insurance Group Ltd FI Increases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Zurich Insurance Group Ltd FI grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 19.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,030 shares of the biopharmaceutical company’s stock after buying an additional 41,097 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Gilead Sciences were worth $16,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Advisors Inc. grew its position in Gilead Sciences by 17.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 3,713 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 548 shares during the last quarter. Brave Asset Management Inc. bought a new stake in Gilead Sciences during the 1st quarter worth $220,000. Mn Services Vermogensbeheer B.V. grew its position in Gilead Sciences by 0.9% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 720,930 shares of the biopharmaceutical company’s stock worth $46,868,000 after acquiring an additional 6,500 shares during the last quarter. Toronto Dominion Bank grew its position in Gilead Sciences by 42.4% during the 1st quarter. Toronto Dominion Bank now owns 1,396,705 shares of the biopharmaceutical company’s stock worth $90,784,000 after acquiring an additional 415,719 shares during the last quarter. Finally, Point View Wealth Management Inc. grew its position in Gilead Sciences by 14.3% during the 1st quarter. Point View Wealth Management Inc. now owns 14,375 shares of the biopharmaceutical company’s stock worth $935,000 after acquiring an additional 1,802 shares during the last quarter. Hedge funds and other institutional investors own 79.57% of the company’s stock.

GILD has been the topic of a number of analyst reports. Wells Fargo & Co upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the company from $68.00 to $88.00 in a research report on Monday, July 15th. Royal Bank of Canada upgraded Gilead Sciences from an “outperform” rating to a “top pick” rating and set a $91.00 price target on the stock in a research report on Monday, July 29th. Mizuho set a $88.00 price target on Gilead Sciences and gave the company a “buy” rating in a research report on Monday, July 15th. Citigroup set a $78.00 price target on Gilead Sciences and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $82.24.



In other news, Director Olsen Per Wold sold 4,908 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $63.91, for a total value of $313,670.28. Following the completion of the sale, the director now directly owns 102,762 shares of the company’s stock, valued at $6,567,519.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brett A. Pletcher sold 608 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $64.35, for a total value of $39,124.80. Following the completion of the sale, the executive vice president now directly owns 27,198 shares of the company’s stock, valued at $1,750,191.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,716 shares of company stock worth $821,299. 0.20% of the stock is owned by company insiders.

GILD stock traded up $1.01 during trading on Friday, reaching $66.97. 3,378,746 shares of the stock were exchanged, compared to its average volume of 5,563,156. The firm’s 50 day moving average is $64.41 and its 200 day moving average is $65.46. Gilead Sciences, Inc. has a twelve month low of $60.32 and a twelve month high of $79.61. The company has a current ratio of 3.76, a quick ratio of 3.67 and a debt-to-equity ratio of 1.13. The firm has a market cap of $83.80 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 3.14 and a beta of 1.10.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. Gilead Sciences had a return on equity of 37.12% and a net margin of 26.64%. The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the business earned $1.91 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts predict that Gilead Sciences, Inc. will post 6.66 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Thursday, September 12th. Gilead Sciences’s dividend payout ratio (DPR) is currently 40.98%.

About Gilead Sciences

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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