Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.5% during the 3rd quarter, Holdings Channel reports. The firm owned 390,175 shares of the biopharmaceutical company’s stock after purchasing an additional 27,283 shares during the period. PNC Financial Services Group Inc.’s holdings in Gilead Sciences were worth $32,712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in Gilead Sciences by 23.7% during the first quarter. Bessemer Group Inc. now owns 121,072 shares of the biopharmaceutical company’s stock worth $8,868,000 after acquiring an additional 23,213 shares during the period. MQS Management LLC acquired a new position in shares of Gilead Sciences in the 1st quarter worth approximately $250,000. CreativeOne Wealth LLC raised its holdings in shares of Gilead Sciences by 71.7% in the 1st quarter. CreativeOne Wealth LLC now owns 23,654 shares of the biopharmaceutical company’s stock worth $1,732,000 after purchasing an additional 9,875 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in Gilead Sciences by 24.5% during the first quarter. Axxcess Wealth Management LLC now owns 17,916 shares of the biopharmaceutical company’s stock valued at $1,312,000 after purchasing an additional 3,521 shares during the last quarter. Finally, Capital Group Investment Management PTE. LTD. grew its position in Gilead Sciences by 4.2% in the first quarter. Capital Group Investment Management PTE. LTD. now owns 12,681 shares of the biopharmaceutical company’s stock worth $929,000 after buying an additional 508 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,947 shares of company stock worth $4,968,674 in the last 90 days. 0.29% of the stock is owned by company insiders.

Gilead Sciences Stock Up 1.0 %

Shares of Gilead Sciences stock opened at $88.63 on Thursday. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The stock has a market capitalization of $110.46 billion, a P/E ratio of 984.78, a PEG ratio of 2.74 and a beta of 0.17. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average price of $87.15 and a two-hundred day moving average price of $76.52.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. Equities analysts expect that Gilead Sciences, Inc. will post 4.38 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GILD. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price target for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Truist Financial boosted their price objective on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Wolfe Research assumed coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 target price for the company. Finally, Robert W. Baird upped their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.