Gilead Sciences, Inc. (GILD) Stake Lessened by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 603,007 shares of the biopharmaceutical company’s stock after selling 47,092 shares during the period. PNC Financial Services Group Inc.’s holdings in Gilead Sciences were worth $42,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in GILD. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Gilead Sciences by 583.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 1,400 shares during the last quarter. Penserra Capital Management LLC boosted its position in Gilead Sciences by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 144 shares during the period. American Beacon Advisors Inc. purchased a new position in Gilead Sciences in the 1st quarter valued at approximately $143,000. Sterling Investment Advisors Ltd. purchased a new position in Gilead Sciences in the 2nd quarter valued at approximately $184,000. Finally, Washington Trust Bank boosted its position in Gilead Sciences by 24.8% in the 2nd quarter. Washington Trust Bank now owns 2,767 shares of the biopharmaceutical company’s stock valued at $196,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 76.30% of the company’s stock.
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Several brokerages have commented on GILD. Argus cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and raised their price target for the company from $73.25 to $73.77 in a research report on Monday, November 13th. Mizuho raised their price target on shares of Gilead Sciences from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a research report on Friday, October 27th. BMO Capital Markets decreased their price objective on shares of Gilead Sciences from $89.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Finally, J P Morgan Chase & Co set a $85.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Gilead Sciences currently has an average rating of “Buy” and an average target price of $84.87.
Gilead Sciences, Inc. (NASDAQ GILD) opened at $72.82 on Friday. The company has a quick ratio of 3.56, a current ratio of 3.68 and a debt-to-equity ratio of 1.10. The company has a market cap of $95,122.51, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of -1.22 and a beta of 1.13. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $86.27.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period in the previous year, the business posted $2.75 earnings per share. The business’s revenue was down 13.2% compared to the same quarter last year. equities research analysts anticipate that Gilead Sciences, Inc. will post 8.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.86%. Gilead Sciences’s dividend payout ratio (DPR) is 23.69%.
In related news, CFO Robin L. Washington sold 51,820 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the sale, the chief financial officer now owns 43,352 shares of the company’s stock, valued at $3,684,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gregg H. Alton sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $79.00, for a total transaction of $3,950,000.00. Following the sale, the executive vice president now directly owns 113,237 shares in the company, valued at approximately $8,945,723. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 666,819 shares of company stock worth $52,303,086. Company insiders own 1.30% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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