Commerce Bank Acquires Shares of 281,297 Gilead Sciences, Inc. $GILD

Key Points

• Commerce Bank acquired 281,297 Gilead Sciences shares during the second quarter, valued at approximately $35.5 million. Institutional investors collectively own 83.67% of Gilead’s outstanding stock.
• Analyst sentiment remains positive overall, with 24 Buy ratings and five Hold ratings producing a “Moderate Buy” consensus and an average price target of $158.04, although several firms recently lowered their targets or downgraded the stock.
• Gilead reported quarterly revenue of $7.8 billion, up 10.6% year over year and above estimates, while beating the adjusted EPS loss consensus. The company also declared a quarterly dividend of $0.82 per share, equating to a 2.2% annual yield.

Commerce Bank bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 281,297 shares of the biopharmaceutical company's stock, valued at approximately $35,539,000.

A number of other large investors have also recently modified their holdings of GILD. Paulson Wealth Management Inc. increased its position in shares of Gilead Sciences by 1.8% during the fourth quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company's stock valued at $477,000 after buying an additional 67 shares during the period. Essex Financial Services Inc. lifted its holdings in Gilead Sciences by 0.9% in the fourth quarter. Essex Financial Services Inc. now owns 7,724 shares of the biopharmaceutical company's stock worth $948,000 after buying an additional 71 shares during the period. Davidson Trust Co. lifted its holdings in Gilead Sciences by 4.1% in the first quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company's stock worth $262,000 after buying an additional 74 shares during the period. Alpha Cubed Investments LLC boosted its position in Gilead Sciences by 1.1% during the 4th quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company's stock valued at $812,000 after acquiring an additional 75 shares in the last quarter. Finally, Financial Connections Group Inc. boosted its position in Gilead Sciences by 30.2% during the 1st quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GILD. Wall Street Zen upgraded Gilead Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Barclays dropped their price target on Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. Weiss Ratings cut Gilead Sciences from a "buy (b-)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Daiwa Securities Group reduced their price target on Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 19th. Finally, Leerink Partners downgraded Gilead Sciences from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $146.00 to $127.00 in a report on Tuesday, July 21st. Twenty-four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.04.

Gilead Sciences Price Performance

Shares of GILD opened at $146.12 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $108.46 and a fifty-two week high of $157.29. The firm's 50-day simple moving average is $131.97 and its two-hundred day simple moving average is $136.59. The stock has a market cap of $181.18 billion, a PE ratio of -54.73 and a beta of 0.32. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The firm had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period last year, the business earned $2.01 earnings per share. The business's revenue was up 10.6% on a year-over-year basis. Analysts anticipate that Gilead Sciences, Inc. will post -0.51 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is -122.85%.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction on Monday, August 17th. The stock was sold at an average price of $138.36, for a total transaction of $415,080.00. Following the completion of the transaction, the chief financial officer owned 165,646 shares in the company, valued at approximately $22,918,780.56. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the sale, the director directly owned 10,066 shares in the company, valued at $1,459,771.32. This trade represents a 33.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 87,000 shares of company stock worth $11,562,960 over the last three months. 0.30% of the stock is owned by corporate insiders.

Gilead Sciences Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

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