Pacer Advisors Inc. Boosts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Pacer Advisors Inc. lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 24.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,889,663 shares of the biopharmaceutical company’s stock after acquiring an additional 1,564,792 shares during the quarter. Gilead Sciences comprises approximately 1.2% of Pacer Advisors Inc.’s holdings, making the stock its 2nd largest position. Pacer Advisors Inc. owned about 0.63% of Gilead Sciences worth $541,310,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares during the period. Sachetta LLC bought a new position in Gilead Sciences during the fourth quarter worth about $30,000. Palisade Asset Management LLC acquired a new stake in Gilead Sciences during the first quarter valued at approximately $29,000. Frank Rimerman Advisors LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $36,000. Finally, Cedar Wealth Management LLC raised its holdings in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred 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 completion of the sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The disclosure for this sale can be found here. In the last three months, insiders sold 36,847 shares of company stock worth $3,002,940. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on GILD shares. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a report on Monday. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Finally, Royal Bank of Canada increased their price target on Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $82.06.

Gilead Sciences Price Performance

Shares of GILD opened at $83.90 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock has a market cap of $104.53 billion, a P/E ratio of 233.06, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18. The stock’s 50-day moving average price is $76.67 and its two-hundred day moving average price is $71.18. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The business had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. On average, equities analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

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

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.