PNC Financial Services Group Inc. Increases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

PNC Financial Services Group Inc. lifted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 390,175 shares of the biopharmaceutical company’s stock after buying an additional 27,283 shares during the period. PNC Financial Services Group Inc.’s holdings in Gilead Sciences were worth $32,712,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts recently issued reports on GILD shares. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Oppenheimer boosted their price target on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company raised their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Gilead Sciences Stock Up 1.0 %

Shares of NASDAQ:GILD opened at $88.63 on Thursday. The company’s fifty day moving average is $87.15 and its two-hundred day moving average is $76.52. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The stock has a market capitalization of $110.46 billion, a price-to-earnings ratio of 984.78, a price-to-earnings-growth ratio of 2.74 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $2.29 earnings per share. Equities analysts anticipate that Gilead Sciences, Inc. will post 4.38 EPS for the current year.

Gilead Sciences Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on 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 sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock valued at $4,968,674 over the last three months. Company insiders own 0.29% of the company’s stock.

Gilead Sciences 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.