PNC Financial Services Group Inc. Purchases 8,023 Shares of Gilead Sciences, Inc. $GILD

PNC Financial Services Group Inc. boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 416,136 shares of the biopharmaceutical company’s stock after purchasing an additional 8,023 shares during the period. PNC Financial Services Group Inc.’s holdings in Gilead Sciences were worth $46,137,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Gilead Sciences by 314.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company’s stock worth $1,647,484,000 after buying an additional 11,156,382 shares during the period. Nuveen LLC acquired a new position in Gilead Sciences in the 1st quarter valued at approximately $620,415,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Gilead Sciences during the second quarter valued at $238,083,000. Los Angeles Capital Management LLC raised its stake in shares of Gilead Sciences by 422.6% during the first quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company’s stock valued at $282,706,000 after acquiring an additional 2,040,261 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Gilead Sciences by 1.7% during the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company’s stock worth $13,162,606,000 after purchasing an additional 1,942,433 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on GILD. Sanford C. Bernstein restated an “outperform” rating on shares of Gilead Sciences in a report on Monday, November 3rd. Citigroup increased their price target on Gilead Sciences from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Daiwa Capital Markets raised their price objective on Gilead Sciences from $128.00 to $129.00 and gave the stock an “outperform” rating in a research report on Thursday. Wolfe Research upped their target price on Gilead Sciences from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.13.

Insider Activity at Gilead Sciences

In other news, EVP Deborah H. Telman sold 53,646 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $122.85, for a total transaction of $6,590,411.10. Following the transaction, the executive vice president owned 43,676 shares in the company, valued at approximately $5,365,596.60. This represents a 55.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $119.39, for a total transaction of $1,193,900.00. Following the transaction, the chief executive officer directly owned 581,203 shares in the company, valued at $69,389,826.17. This trade represents a 1.69% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 94,646 shares of company stock valued at $11,311,286. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Trading Up 1.5%

NASDAQ GILD opened at $125.20 on Friday. The stock has a market capitalization of $155.33 billion, a P/E ratio of 24.94, a P/E/G ratio of 0.81 and a beta of 0.32. The business has a 50 day simple moving average of $117.24 and a 200 day simple moving average of $112.64. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences, Inc. has a one year low of $86.08 and a one year high of $127.68.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.31. The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.42 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, December 15th. Gilead Sciences’s dividend payout ratio (DPR) is presently 48.99%.

About Gilead Sciences

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.