PNC Financial Services Group Inc. Increases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

PNC Financial Services Group Inc. lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,175 shares of the biopharmaceutical company's stock after acquiring an additional 27,283 shares during the period. PNC Financial Services Group Inc.'s holdings in Gilead Sciences were worth $32,712,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in Gilead Sciences during the 3rd quarter worth $25,000. Valued Wealth Advisors LLC lifted its stake in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 161 shares during the last quarter. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 238 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences in the second quarter valued at $33,000. Finally, Cedar Wealth Management LLC lifted its position in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 160 shares during the period. 83.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GILD has been the topic of several research reports. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They set an "outperform" rating and a $105.00 price objective on the stock. Royal Bank of Canada raised their price target on shares of Gilead Sciences from $81.00 to $84.00 and gave the stock a "sector perform" rating in a research note on Monday. The Goldman Sachs Group increased their price objective on Gilead Sciences from $74.00 to $84.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Mizuho lifted their price target on Gilead Sciences from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Twelve 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. According to data from MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and an average target price of $94.45.

Gilead Sciences Trading Up 1.0 %

GILD opened at $88.63 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a market cap of $110.46 billion, a PE ratio of 984.78, a PEG ratio of 2.72 and a beta of 0.17. The business has a 50 day moving average of $87.15 and a 200-day moving average of $76.52. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 EPS. Equities research analysts predict that Gilead Sciences, Inc. will post 4.38 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences's dividend payout ratio is currently 3,422.22%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company's stock, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Merdad Parsey sold 2,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares of the company's stock, valued at $8,398,843.87. The trade was a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock valued at $4,968,674 over the last 90 days. Company insiders own 0.16% of the company's stock.

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.