Nexus Investment Management Inc. Acquires 4,450 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Nexus Investment Management Inc. lifted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 307,266 shares of the biopharmaceutical company’s stock after acquiring an additional 4,450 shares during the quarter. Gilead Sciences makes up about 4.1% of Nexus Investment Management Inc.’s portfolio, making the stock its 10th biggest holding. Nexus Investment Management Inc.’s holdings in Gilead Sciences were worth $22,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GILD. Grove Bank & Trust purchased a new position in shares of Gilead Sciences in the fourth quarter worth approximately $232,000. B. Riley Wealth Management Inc. increased its position in shares of Gilead Sciences by 19.7% in the fourth quarter. B. Riley Wealth Management Inc. now owns 9,101 shares of the biopharmaceutical company’s stock worth $591,000 after acquiring an additional 1,496 shares in the last quarter. Malaga Cove Capital LLC increased its position in shares of Gilead Sciences by 19.8% in the fourth quarter. Malaga Cove Capital LLC now owns 18,607 shares of the biopharmaceutical company’s stock worth $1,209,000 after acquiring an additional 3,069 shares in the last quarter. AMG National Trust Bank increased its position in shares of Gilead Sciences by 8.5% in the fourth quarter. AMG National Trust Bank now owns 74,817 shares of the biopharmaceutical company’s stock worth $4,862,000 after acquiring an additional 5,861 shares in the last quarter. Finally, S.A. Mason LLC purchased a new position in shares of Gilead Sciences in the fourth quarter worth approximately $60,000. 80.32% of the stock is currently owned by institutional investors.

GILD stock traded up $1.23 on Friday, reaching $78.21. 19,411,213 shares of the company were exchanged, compared to its average volume of 19,627,283. Gilead Sciences, Inc. has a 12 month low of $60.89 and a 12 month high of $85.97. The stock’s fifty day moving average price is $72.07 and its 200 day moving average price is $66.84. The firm has a market capitalization of $98.47 billion, a PE ratio of 18.58, a PEG ratio of 5.68 and a beta of 0.68. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.10 and a quick ratio of 3.01.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $1.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.37). Gilead Sciences had a net margin of 23.99% and a return on equity of 35.49%. The firm had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.74 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts expect that Gilead Sciences, Inc. will post 6.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 13th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Thursday, March 12th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 3.48%. Gilead Sciences’s dividend payout ratio is presently 44.30%.

GILD has been the subject of several research reports. Mizuho initiated coverage on shares of Gilead Sciences in a report on Monday, March 2nd. They set a “buy” rating and a $81.00 price target for the company. Cowen restated a “buy” rating and set a $85.00 price target on shares of Gilead Sciences in a report on Thursday, January 2nd. Maxim Group restated a “hold” rating on shares of Gilead Sciences in a report on Sunday, February 9th. Bank of America lifted their target price on shares of Gilead Sciences from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, SunTrust Banks reiterated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, March 25th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the stock. Gilead Sciences presently has a consensus rating of “Hold” and an average target price of $77.22.

In other Gilead Sciences news, EVP Brett A. Pletcher sold 2,950 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $75.55, for a total transaction of $222,872.50. Following the transaction, the executive vice president now directly owns 17,594 shares in the company, valued at approximately $1,329,226.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Francis Cogan sold 2,413 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $77.97, for a total transaction of $188,141.61. Following the transaction, the director now owns 57,273 shares in the company, valued at $4,465,575.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,995 shares of company stock worth $5,092,547. Corporate insiders own 0.20% of the company’s stock.

Gilead Sciences Company Profile

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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