PNC Financial Services Group Inc. Acquires 14,312 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• PNC Financial Services Group Inc. increased its stake in Gilead Sciences, Inc. by 3.6% during the first quarter, owning a total of 408,113 shares valued at approximately $45.7 million.
• Insider trading at Gilead Sciences included CEO Daniel Patrick O'day selling 10,000 shares for over $1.1 million, while other insiders also sold significant shares recently.
• Analysts have shown a positive outlook on Gilead, with several upgrades leading to an average rating of "Moderate Buy" and a consensus target price of $112.36.

PNC Financial Services Group Inc. raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 408,113 shares of the biopharmaceutical company's stock after buying an additional 14,312 shares during the period. PNC Financial Services Group Inc.'s holdings in Gilead Sciences were worth $45,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Gilead Sciences in the first quarter valued at $25,000. Goodman Advisory Group LLC bought a new position in shares of Gilead Sciences in the first quarter valued at $29,000. Core Alternative Capital lifted its stake in shares of Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 241 shares in the last quarter. IMA Advisory Services Inc. bought a new position in shares of Gilead Sciences in the first quarter valued at $39,000. Finally, Investment Research & Advisory Group Inc. lifted its stake in shares of Gilead Sciences by 33.3% in the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 100 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the completion of the transaction, the chief executive officer owned 615,725 shares in the company, valued at $68,006,826.25. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider owned 121,152 shares of the company's stock, valued at $13,026,263.04. This represents a 18.77% 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.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $113.18 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $140.79 billion, a PE ratio of 23.83, a P/E/G ratio of 0.71 and a beta of 0.33. Gilead Sciences, Inc. has a twelve month low of $72.43 and a twelve month high of $119.96. The company has a 50-day moving average price of $110.51 and a two-hundred day moving average price of $106.91.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GILD shares. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a report on Friday, July 25th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. Oppenheimer lowered their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Morgan Stanley increased their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.36.

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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