Commerce Bank Invests $35.54 Million in Gilead Sciences, Inc. $GILD

Commerce Bank purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 281,297 shares of the biopharmaceutical company’s stock, valued at approximately $35,539,000.

A number of other hedge funds also recently added to or reduced their stakes in GILD. Northwestern Mutual Wealth Management Co. purchased a new position in Gilead Sciences in the 2nd quarter worth approximately $11,651,000. CFO4Life Group LLC purchased a new stake in Gilead Sciences during the 2nd quarter valued at $399,000. Quantbot Technologies LP bought a new stake in shares of Gilead Sciences in the 2nd quarter worth $1,433,000. Evolve Private Wealth LLC bought a new stake in shares of Gilead Sciences in the 2nd quarter worth $2,552,000. Finally, WealthShield Partners LLC purchased a new position in shares of Gilead Sciences in the second quarter worth $1,712,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $145.02, for a total value of $725,100.00. Following the transaction, the director owned 10,066 shares of the company’s stock, valued at approximately $1,459,771.32. This trade represents a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the sale, the insider directly owned 118,234 shares of the company’s stock, valued at approximately $16,273,727.76. This represents a 19.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 87,000 shares of company stock valued at $11,562,960. 0.30% of the stock is owned by company insiders.

Gilead Sciences Stock Performance

GILD stock opened at $146.12 on Friday. The company has a market cap of $181.18 billion, a P/E ratio of -54.73 and a beta of 0.32. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year high of $157.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The stock’s fifty day moving average price is $131.97 and its 200-day moving average price is $136.59.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. The company had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.Gilead Sciences’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 earnings per share. On average, equities analysts forecast that Gilead Sciences, Inc. will post -0.51 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences’s payout ratio is currently -122.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GILD. Weiss Ratings downgraded Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Truist Financial decreased their target price on Gilead Sciences from $157.00 to $156.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Barclays lowered their target price on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $155.00 price target on shares of Gilead Sciences in a research note on Wednesday, August 5th. Twenty-four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.04.

Gilead Sciences Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.