Meeder Asset Management Inc. Invests $17.12 Million in Gilead Sciences, Inc. $GILD

Meeder Asset Management Inc. bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 135,547 shares of the biopharmaceutical company’s stock, valued at approximately $17,125,000. Gilead Sciences makes up approximately 0.9% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its position in Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock valued at $1,326,000 after buying an additional 2,450 shares during the last quarter. Bison Wealth LLC purchased a new position in Gilead Sciences during the 4th quarter worth $215,000. Sivia Capital Partners LLC grew its stake in shares of Gilead Sciences by 16.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,182 shares of the biopharmaceutical company’s stock worth $464,000 after acquiring an additional 602 shares in the last quarter. Ieq Capital LLC grew its stake in shares of Gilead Sciences by 12.0% in the 2nd quarter. Ieq Capital LLC now owns 118,695 shares of the biopharmaceutical company’s stock worth $13,160,000 after acquiring an additional 12,705 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of Gilead Sciences by 18.6% in the second quarter. Diversify Advisory Services LLC now owns 4,296 shares of the biopharmaceutical company’s stock valued at $516,000 after purchasing an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays dropped their price target on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Rothschild & Co Redburn reduced their price objective on shares of Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Royal Bank Of Canada increased their price objective on shares of Gilead Sciences from $120.00 to $123.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Morgan Stanley dropped their target price on shares of Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Finally, Leerink Partners downgraded Gilead Sciences from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $146.00 to $127.00 in a research note on Tuesday, July 21st. Twenty-four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.04.

Gilead Sciences Trading Up 0.4%

NASDAQ:GILD opened at $138.92 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $172.25 billion, a PE ratio of -52.03 and a beta of 0.32. The firm’s 50 day moving average is $130.33 and its 200 day moving average is $136.43. Gilead Sciences, Inc. has a 12 month low of $108.46 and a 12 month high of $157.29.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period in the prior year, the company earned $2.01 earnings per share. Gilead Sciences’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that Gilead Sciences, Inc. will post -0.53 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio is currently -122.85%.

Insider Activity

In other news, CEO Daniel Patrick O’day sold 15,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $131.46, for a total transaction of $1,971,900.00. Following the completion of the transaction, the chief executive officer owned 617,567 shares in the company, valued at approximately $81,185,357.82. This represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $125.40, for a total value of $376,200.00. Following the completion of the sale, the chief financial officer directly owned 171,646 shares of the company’s stock, valued at approximately $21,524,408.40. This trade represents a 1.72% 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 have sold 51,000 shares of company stock valued at $6,568,860 in the last 90 days. Insiders own 0.30% of the company’s stock.

About Gilead Sciences

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.