Pacer Advisors Inc. Raises Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Pacer Advisors Inc. increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 24.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,889,663 shares of the biopharmaceutical company’s stock after buying an additional 1,564,792 shares during the period. Gilead Sciences accounts for about 1.2% of Pacer Advisors Inc.’s portfolio, making the stock its 2nd largest holding. Pacer Advisors Inc.’s holdings in Gilead Sciences were worth $541,310,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Institute for Wealth Management LLC. lifted its position in Gilead Sciences by 1.9% during the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock worth $518,000 after purchasing an additional 142 shares during the period. First Affirmative Financial Network lifted its stake in Gilead Sciences by 3.5% during the first quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock worth $318,000 after purchasing an additional 147 shares during the last quarter. Rathbones Group PLC boosted its holdings in shares of Gilead Sciences by 3.7% in the 4th quarter. Rathbones Group PLC now owns 4,185 shares of the biopharmaceutical company’s stock valued at $339,000 after purchasing an additional 150 shares in the last quarter. MCF Advisors LLC boosted its holdings in shares of Gilead Sciences by 2.1% in the 1st quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock valued at $538,000 after purchasing an additional 152 shares in the last quarter. Finally, Westside Investment Management Inc. increased its stake in shares of Gilead Sciences by 0.6% in the 2nd quarter. Westside Investment Management Inc. now owns 26,526 shares of the biopharmaceutical company’s stock valued at $1,826,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.0 %

GILD opened at $83.90 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The firm has a market capitalization of $104.53 billion, a P/E ratio of 233.06, a PEG ratio of 2.80 and a beta of 0.18. The company’s 50-day moving average is $76.67 and its 200 day moving average is $71.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.61 by $0.40. The firm had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Research analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.67%. Gilead Sciences’s payout ratio is currently 855.56%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a research note on Monday. Royal Bank of Canada raised their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 4th. BMO Capital Markets upped their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. Finally, Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a report on Monday, July 8th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,847 shares of company stock worth $3,002,940. Insiders own 0.16% of the company’s stock.

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.