Gilead Sciences, Inc. $GILD Stock: Fifth Third Bancorp Boosts Stake

Fifth Third Bancorp grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 724,639 shares of the biopharmaceutical company’s stock after acquiring an additional 5,215 shares during the quarter. Fifth Third Bancorp’s holdings in Gilead Sciences were worth $108,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GILD. Maryland State Retirement & Pension System grew its stake in shares of Gilead Sciences by 12.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 75,589 shares of the biopharmaceutical company’s stock worth $11,267,000 after buying an additional 8,393 shares in the last quarter. UNIVEST FINANCIAL Corp bought a new stake in shares of Gilead Sciences in the 3rd quarter worth about $275,000. Joel Isaacson & Co. LLC raised its position in shares of Gilead Sciences by 12.3% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 1,938 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 213 shares in the last quarter. Valued Wealth Advisors LLC raised its position in shares of Gilead Sciences by 14.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 744 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 92 shares in the last quarter. Finally, First Command Advisory Services Inc. raised its position in shares of Gilead Sciences by 124.9% during the 3rd quarter. First Command Advisory Services Inc. now owns 704 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 391 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

GILD opened at $169.73 on Thursday. The business has a fifty day moving average of $154.40 and a 200 day moving average of $141.51. Gilead Sciences, Inc. has a 52-week low of $116.88 and a 52-week high of $176.58. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 1.84. The stock has a market cap of $210.52 billion, a P/E ratio of -53.71 and a beta of 0.35.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.19 by $0.36. Gilead Sciences had a negative return on equity of 1.85% and a negative net margin of 12.47%. The company had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $7.81 billion. During the same quarter in the prior year, the company posted $2.47 EPS. Gilead Sciences’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post -0.98 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 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 1.9%. The ex-dividend date of this dividend is Tuesday, December 15th. Gilead Sciences’s payout ratio is currently -103.80%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Needham & Company LLC set a $175.00 price target on shares of Gilead Sciences in a report on Friday, October 30th. JPMorgan Chase & Co. lifted their price target on Gilead Sciences from $170.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Scotiabank boosted their price objective on Gilead Sciences from $177.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 30th. Cantor Fitzgerald upped their price objective on Gilead Sciences from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $184.00 price objective on shares of Gilead Sciences in a research report on Friday, October 30th. Twenty-three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.15.

Gilead Sciences News Roundup

Investors following GILD have been watching these news items:

• Positive Sentiment: Gilead reported PURPOSE 5 results showing twice-yearly injectable lenacapavir outperformed daily oral HIV prevention on persistence, with no HIV infections in the injectable group. The findings could strengthen the long-term opportunity for its HIV prevention franchise. Gilead Sciences Posts PURPOSE 5 Win As HIV Shot Beats Daily Pills
• Positive Sentiment: Recent coverage also points to clinical progress in HIV and liver disease and raised full-year guidance, supporting confidence in Gilead’s outlook. Its latest reported quarter beat analyst estimates for earnings and revenue, with revenue up year over year. Gilead Sciences After Trial Wins And Raised Guidance Looks Fully Valued
• Neutral Sentiment: Valuation views are mixed after GILD’s substantial multi-year advance: one analysis sees the shares as undervalued based on cash-flow potential, while another considers them fully valued after the rally. This may make further gains more dependent on continued execution. Gilead Stock Still Looks Undervalued On Its 205% Run Gilead Looks Fully Valued

Insider Activity at Gilead Sciences

In other news, CFO Andrew Dickinson sold 3,000 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $156.22, for a total value of $468,660.00. Following the transaction, the chief financial officer directly owned 161,096 shares in the company, valued at approximately $25,166,417.12. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Keeley Cain Wettan sold 3,399 shares of the company’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $164.11, for a total transaction of $557,809.89. Following the completion of the transaction, the executive vice president owned 5,360 shares in the company, valued at approximately $879,629.60. The trade was a 38.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 242,709 shares of company stock valued at $39,503,427 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Gilead Sciences Profile

Gilead Sciences, Inc. is a biopharmaceutical company that discovers, develops and commercializes medicines for serious diseases. Founded in 1987 and headquartered in Foster City, California, the company focuses on antiviral therapies, including treatments and preventive medicines for HIV and medicines for viral hepatitis. Its products include Biktarvy for HIV and Epclusa for hepatitis C. Gilead also develops medicines in areas such as oncology and inflammatory diseases. Its portfolio includes Veklury (remdesivir), an antiviral medicine used to treat COVID-19.