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

Key Points

• The Public Sector Pension Investment Board increased its stake in Gilead Sciences by 21.2%, acquiring an additional 33,390 shares during the first quarter, valuing their total holdings at approximately $21.37 million.
• Gilead's recent earnings report showed EPS of $2.01 which beat the consensus estimate, with revenues of $7.08 billion, and the company is projected to post 7.95 EPS for the current year.
• Insider Johanna Mercier sold 28,000 shares of Gilead's stock, decreasing her position by 18.77%, while CFO Andrew D. Dickinson also sold shares that reflected a 1.51% decrease in his ownership.

Public Sector Pension Investment Board raised its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 21.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,746 shares of the biopharmaceutical company's stock after buying an additional 33,390 shares during the quarter. Public Sector Pension Investment Board's holdings in Gilead Sciences were worth $21,373,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in shares of Gilead Sciences during the first quarter worth $25,000. Goodman Advisory Group LLC bought a new stake in Gilead Sciences during the 1st quarter worth $29,000. Core Alternative Capital grew its position in Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 241 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Gilead Sciences during the first quarter worth about $39,000. Finally, Clearstead Trust LLC grew its holdings in shares of Gilead Sciences by 287.6% during the first quarter. Clearstead Trust LLC now owns 376 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 279 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Down 0.9%

Shares of GILD traded down $1.12 during trading hours on Thursday, reaching $119.02. The stock had a trading volume of 5,461,007 shares, compared to its average volume of 8,364,447. The company has a market capitalization of $147.68 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 0.75 and a beta of 0.33. The firm has a 50-day simple moving average of $111.59 and a 200 day simple moving average of $108.00. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a 12 month low of $72.89 and a 12 month high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the previous year, the firm posted $2.01 earnings per share. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.7%. Gilead Sciences's dividend payout ratio is 62.95%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GILD. UBS Group boosted their target price on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Morgan Stanley upped their price target on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Cantor Fitzgerald assumed coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target on the stock. Oppenheimer decreased their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and increased their target price for the company from $108.00 to $127.00 in a research report on Friday, August 8th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Gilead Sciences has a consensus rating of "Moderate Buy" and an average target price of $114.82.

Insider Buying and Selling

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total value of $1,139,400.00. Following the completion of the sale, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This represents a 1.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the sale, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This represents a 35.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,500 shares of company stock valued at $8,734,625. 0.27% of the stock is owned by company insiders.

Gilead Sciences Company 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.