PNC Financial Services Group Inc. Acquires 3,626 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

PNC Financial Services Group Inc. grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 393,801 shares of the biopharmaceutical company’s stock after purchasing an additional 3,626 shares during the period. PNC Financial Services Group Inc.’s holdings in Gilead Sciences were worth $36,375,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GILD. HHM Wealth Advisors LLC raised its stake in Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership bought a new position in shares of Gilead Sciences in the 4th quarter worth $28,000. Decker Retirement Planning Inc. purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at $29,000. Crews Bank & Trust bought a new stake in shares of Gilead Sciences during the 4th quarter worth $31,000. Finally, Stephens Consulting LLC grew its position in Gilead Sciences by 325.0% in the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 293,356 shares of company stock valued at $29,166,240 over the last ninety days. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GILD shares. Morgan Stanley raised their price target on Gilead Sciences from $113.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. DZ Bank raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Thursday, February 13th. Citigroup started coverage on Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price for the company. BMO Capital Markets lifted their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $104.24.

Gilead Sciences Stock Up 1.2 %

Shares of NASDAQ GILD opened at $117.41 on Monday. The firm has a fifty day simple moving average of $99.61 and a two-hundred day simple moving average of $91.62. The firm has a market capitalization of $146.22 billion, a PE ratio of 317.32, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $118.42.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Equities analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.69%. Gilead Sciences’s payout ratio is currently 854.05%.

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.