Commerce Bank Purchases 7,055 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Commerce Bank grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,494 shares of the biopharmaceutical company’s stock after acquiring an additional 7,055 shares during the quarter. Commerce Bank’s holdings in Gilead Sciences were worth $6,078,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc lifted its stake in shares of Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Gilead Sciences by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after buying an additional 268,208 shares during the period. Pacer Advisors Inc. grew its position in shares of Gilead Sciences by 24.7% during the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after buying an additional 1,564,792 shares in the last quarter. Van ECK Associates Corp increased its holdings in Gilead Sciences by 0.4% during the third quarter. Van ECK Associates Corp now owns 6,342,831 shares of the biopharmaceutical company’s stock valued at $553,285,000 after buying an additional 22,847 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Gilead Sciences by 19.6% in the second quarter. Federated Hermes Inc. now owns 6,321,167 shares of the biopharmaceutical company’s stock worth $433,695,000 after purchasing an additional 1,036,932 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GILD shares. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Oppenheimer raised their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Robert W. Baird boosted their price target on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their target price on shares of Gilead Sciences from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Monday. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and a consensus target price of $95.41.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,947 shares of company stock worth $4,968,674. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $89.84 on Friday. The stock has a market capitalization of $111.96 billion, a PE ratio of 998.22, a P/E/G ratio of 2.72 and a beta of 0.17. The firm has a 50 day moving average of $87.28 and a two-hundred day moving average of $76.61. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. On average, research analysts predict that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.43%. Gilead Sciences’s payout ratio is currently 3,422.22%.

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.