Pandora Wealth Inc. Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Pandora Wealth Inc. has acquired a new stake in Gilead Sciences, Inc., purchasing 23,000 shares valued at approximately $2.577 million, making Gilead its 16th biggest holding.
• Gilead reported earnings of $2.01 EPS for the latest quarter, exceeding estimates, with a revenue of $7.08 billion, up 1.4% year-over-year.
• Gilead Sciences plans to distribute a quarterly dividend of $0.79 per share on September 29th, representing an annualized yield of 2.6%.

Pandora Wealth Inc. acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,000 shares of the biopharmaceutical company's stock, valued at approximately $2,577,000. Gilead Sciences comprises 1.7% of Pandora Wealth Inc.'s investment portfolio, making the stock its 16th largest position.

Several other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Gilead Sciences by 13,891.1% during the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock worth $285,761,000 after acquiring an additional 2,532,070 shares in the last quarter. Northern Trust Corp lifted its position in shares of Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after acquiring an additional 2,458,954 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Gilead Sciences by 422.6% during the first quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock worth $282,706,000 after acquiring an additional 2,040,261 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Gilead Sciences by 30.1% during the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after acquiring an additional 2,005,863 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Gilead Sciences by 1.7% in the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock worth $13,162,606,000 after purchasing an additional 1,942,433 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Down 0.0%

GILD traded down $0.02 on Wednesday, hitting $120.00. The company had a trading volume of 2,486,052 shares, compared to its average volume of 8,366,595. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences, Inc. has a 52-week low of $72.89 and a 52-week high of $121.83. The stock has a fifty day simple moving average of $111.37 and a 200-day simple moving average of $107.91. The firm has a market capitalization of $148.90 billion, a P/E ratio of 23.90, a P/E/G ratio of 0.76 and a beta of 0.33.

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

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. Gilead Sciences's dividend payout ratio (DPR) is 62.95%.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $277,575.00. Following the completion of the sale, the chief financial officer owned 162,610 shares of the company's stock, valued at $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the sale, the director directly owned 8,920 shares of the company's stock, valued at $978,880.80. This trade represents a 35.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock worth $8,984,175 over the last three months. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

GILD has been the topic of several research analyst reports. Royal Bank Of Canada upped their price target on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and upped their price target for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target on the stock. Oppenheimer decreased their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley upped their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $114.82.

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.