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

Commerce Bank lifted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 10.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,494 shares of the biopharmaceutical company's stock after purchasing an additional 7,055 shares during the period. Commerce Bank's holdings in Gilead Sciences were worth $6,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MQS Management LLC acquired a new position in Gilead Sciences in the first quarter valued at $250,000. Axxcess Wealth Management LLC grew its stake in shares of Gilead Sciences by 24.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 17,916 shares of the biopharmaceutical company's stock valued at $1,312,000 after buying an additional 3,521 shares during the period. Canada Pension Plan Investment Board increased its position in Gilead Sciences by 6.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,410,443 shares of the biopharmaceutical company's stock valued at $103,315,000 after buying an additional 80,666 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in Gilead Sciences by 18.7% during the 1st quarter. Epoch Investment Partners Inc. now owns 887,978 shares of the biopharmaceutical company's stock worth $65,044,000 after buying an additional 139,907 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in Gilead Sciences by 2.6% in the first quarter. Lazard Asset Management LLC now owns 969,733 shares of the biopharmaceutical company's stock worth $71,032,000 after acquiring an additional 24,683 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $89.84 on Friday. The stock has a market cap of $111.96 billion, a price-to-earnings ratio of 998.22, a P/E/G ratio of 2.72 and a beta of 0.17. The stock's 50-day moving average is $87.28 and its 200 day moving average is $76.61. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its 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 net margin of 0.45% and a return on equity of 29.00%. 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 company earned $2.29 EPS. The firm's revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.43%. Gilead Sciences's payout ratio is presently 3,422.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GILD shares. Cantor Fitzgerald boosted their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Leerink Partnrs upgraded Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 21st. Evercore ISI upgraded shares of Gilead Sciences to a "strong-buy" rating in a research note on Friday, August 9th. Wolfe Research initiated coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They set an "outperform" rating and a $110.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences presently has an average rating of "Moderate Buy" and an average target price of $95.41.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares of the company's stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % 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, insider Johanna Mercier sold 29,357 shares of the company's stock in a transaction that occurred on 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 owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,947 shares of company stock worth $4,968,674 in the last 90 days. Company insiders own 0.16% of the company's stock.

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.