Pandora Wealth Inc. Acquires New Stake 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 and Exchange Commission. The fund acquired 23,000 shares of the biopharmaceutical company's stock, valued at approximately $2,577,000. Gilead Sciences accounts for 1.7% of Pandora Wealth Inc.'s holdings, making the stock its 16th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of GILD. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Gilead Sciences in the 1st quarter valued at $25,000. Goodman Advisory Group LLC purchased a new stake in Gilead Sciences during the 1st quarter worth about $29,000. Core Alternative Capital increased its holdings 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 purchasing an additional 241 shares during the period. IMA Advisory Services Inc. purchased a new stake in Gilead Sciences during the 1st quarter worth about $39,000. Finally, Clearstead Trust LLC increased its holdings in Gilead Sciences by 287.6% during the 1st 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 period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $119.41 on Friday. The business's fifty day moving average price is $110.93 and its two-hundred day moving average price is $107.43. The stock has a market cap of $148.54 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.70 and a beta of 0.33. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. Gilead Sciences, Inc. has a one year low of $72.43 and a one year high of $121.38.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The firm had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a return on equity of 51.45% and a net margin of 21.86%. Gilead Sciences's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 EPS. On average, analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.79 per share. The ex-dividend date 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 66.53%.

Insiders Place Their Bets

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the sale, the chief executive officer owned 605,725 shares in the company, valued at $69,016,306.50. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the transaction, the director owned 8,920 shares in the company, valued at $978,880.80. The trade was a 35.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $8,984,175 over the last ninety days. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GILD shares. Truist Financial upgraded 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. Oppenheimer lowered their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Royal Bank Of Canada upped their price objective on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday. Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective for the company. Finally, Morgan Stanley upped their price objective on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.

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