Pacer Advisors Inc. grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 14.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 419,503 shares of the biopharmaceutical company’s stock after purchasing an additional 52,013 shares during the period. Pacer Advisors Inc.’s holdings in Gilead Sciences were worth $29,302,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of GILD. Sierra Capital LLC acquired a new position in Gilead Sciences during the first quarter worth $60,000. New Mexico Educational Retirement Board boosted its position in shares of Gilead Sciences by 5.7% in the second quarter. New Mexico Educational Retirement Board now owns 83,826 shares of the biopharmaceutical company’s stock valued at $5,772,000 after acquiring an additional 4,500 shares during the period. Legacy Capital Partners Inc. boosted its position in shares of Gilead Sciences by 21.5% in the second quarter. Legacy Capital Partners Inc. now owns 9,606 shares of the biopharmaceutical company’s stock valued at $661,000 after acquiring an additional 1,700 shares during the period. WNY Asset Management LLC boosted its position in shares of Gilead Sciences by 66.6% in the second quarter. WNY Asset Management LLC now owns 23,716 shares of the biopharmaceutical company’s stock valued at $1,630,000 after acquiring an additional 9,481 shares during the period. Finally, Pflug Koory LLC bought a new stake in shares of Gilead Sciences in the second quarter valued at about $220,000. Institutional investors own 78.05% of the company’s stock.
GILD has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “buy” rating and issued a C$84.00 target price on shares of Gilead Sciences in a research report on Monday, August 23rd. SVB Leerink reduced their target price on Gilead Sciences from $77.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. Evercore ISI restated a “buy” rating on shares of Gilead Sciences in a report on Sunday, October 31st. Piper Sandler began coverage on Gilead Sciences in a report on Friday, November 19th. They set a “neutral” rating and a $77.00 price target on the stock. Finally, Morgan Stanley increased their price target on Gilead Sciences from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, October 12th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $117.07.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, October 28th. The biopharmaceutical company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.93. Gilead Sciences had a return on equity of 56.59% and a net margin of 26.91%. The company had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same period last year, the business earned $2.11 EPS. Gilead Sciences’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, analysts expect that Gilead Sciences, Inc. will post 7.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 30th. Investors of record on Wednesday, December 15th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, December 14th. Gilead Sciences’s payout ratio is currently 48.46%.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.
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