Public Sector Pension Investment Board Boosts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Public Sector Pension Investment Board grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,122 shares of the biopharmaceutical company’s stock after acquiring an additional 6,400 shares during the period. Public Sector Pension Investment Board’s holdings in Gilead Sciences were worth $4,538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GILD. Avior Wealth Management LLC grew its position in shares of Gilead Sciences by 1.2% in the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares during the last quarter. Concord Asset Management LLC VA boosted its holdings in Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 111 shares during the last quarter. TFB Advisors LLC grew its holdings in shares of Gilead Sciences by 1.2% during the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after purchasing an additional 116 shares during the period. Sumitomo Life Insurance Co. grew its stake in Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after buying an additional 117 shares during the period. Finally, FDx Advisors Inc. boosted its position in Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated Thursday, September 12th. The shares were 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 owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the sale, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 227,946 shares of company stock valued at $20,683,305 in the last ninety days. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Trading Up 0.2 %

Shares of Gilead Sciences stock opened at $92.58 on Monday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The stock has a market cap of $115.38 billion, a PE ratio of 1,028.67, a PEG ratio of 2.87 and a beta of 0.17. The firm has a 50-day moving average of $88.26 and a 200-day moving average of $77.84. 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 (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter last year, the business earned $2.29 earnings per share. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Robert W. Baird raised their price objective on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Piper Sandler upped their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. BMO Capital Markets lifted their price target on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average price target of $95.41.

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.