Kornitzer Capital Management Inc. KS Sells 11,152 Shares of Gilead Sciences, Inc. (GILD)

Kornitzer Capital Management Inc. KS lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 231,624 shares of the biopharmaceutical company’s stock after selling 11,152 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Gilead Sciences were worth $18,766,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Hanson & Doremus Investment Management raised its position in shares of Gilead Sciences by 806.5% in the third quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after acquiring an additional 1,613 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Gilead Sciences in the second quarter worth about $147,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Gilead Sciences by 29.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,120 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 480 shares during the period. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Gilead Sciences in the second quarter worth about $153,000. Finally, Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of Gilead Sciences in the second quarter worth about $172,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) opened at $74.66 on Thursday. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $86.27. The company has a quick ratio of 3.56, a current ratio of 3.68 and a debt-to-equity ratio of 1.10. The firm has a market cap of $96,794.53, a P/E ratio of 8.50, a PEG ratio of -1.58 and a beta of 1.13.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the company posted $2.75 EPS. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. sell-side analysts forecast that Gilead Sciences, Inc. will post 8.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 15th were paid a $0.52 dividend. The ex-dividend date was Thursday, December 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.79%. Gilead Sciences’s dividend payout ratio (DPR) is 23.69%.

Several research analysts recently weighed in on GILD shares. Wells Fargo & Co upped their price target on shares of Gilead Sciences from $73.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 6th. Vetr upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $89.27 price target for the company in a research report on Wednesday, September 6th. Berenberg Bank restated a “buy” rating and set a $96.00 price target (up previously from $86.00) on shares of Gilead Sciences in a research report on Wednesday, September 6th. ValuEngine upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 7th. Finally, Zacks Investment Research downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Gilead Sciences currently has a consensus rating of “Buy” and an average price target of $85.03.

In related news, insider John F. Milligan sold 220,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $72.88, for a total transaction of $16,033,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregg H. Alton sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $74.82, for a total transaction of $1,122,300.00. Following the transaction, the executive vice president now directly owns 77,363 shares of the company’s stock, valued at approximately $5,788,299.66. The disclosure for this sale can be found here. In the last three months, insiders sold 396,666 shares of company stock valued at $29,283,517. Corporate insiders own 1.30% of the company’s stock.

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About Gilead Sciences

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.

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

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