Park Place Capital Corp Boosts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Park Place Capital Corp increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 19.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,096 shares of the biopharmaceutical company’s stock after buying an additional 1,314 shares during the period. Park Place Capital Corp’s holdings in Gilead Sciences were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GILD. Schonfeld Strategic Advisors LLC purchased a new stake in Gilead Sciences during the 3rd quarter valued at $896,000. Truist Financial Corp boosted its stake in Gilead Sciences by 1.4% during the 3rd quarter. Truist Financial Corp now owns 573,445 shares of the biopharmaceutical company’s stock valued at $42,974,000 after purchasing an additional 7,890 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Gilead Sciences by 12.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 364,980 shares of the biopharmaceutical company’s stock valued at $27,352,000 after purchasing an additional 39,619 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Gilead Sciences by 61.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 14,899 shares of the biopharmaceutical company’s stock valued at $1,116,000 after buying an additional 5,674 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Gilead Sciences by 7.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,703,783 shares of the biopharmaceutical company’s stock valued at $127,675,000 after buying an additional 115,189 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. UBS Group lowered their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Barclays lowered their price target on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences currently has an average rating of “Hold” and a consensus price target of $83.47.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $68.64 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The business’s 50-day simple moving average is $65.98 and its two-hundred day simple moving average is $72.51. The stock has a market cap of $85.52 billion, a PE ratio of 190.67, a P/E/G ratio of 2.92 and a beta of 0.18. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The business had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.37 earnings per share. As a group, analysts forecast that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.49%. Gilead Sciences’s payout ratio is 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.29% 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.