Pallas Capital Advisors LLC Raises Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Pallas Capital Advisors LLC grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 85.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,767 shares of the biopharmaceutical company’s stock after acquiring an additional 2,665 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Gilead Sciences were worth $424,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GILD. Norges Bank purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $1,301,624,000. The Manufacturers Life Insurance Company raised its position in Gilead Sciences by 78.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after acquiring an additional 3,362,505 shares during the period. Vanguard Group Inc. boosted its stake in shares of Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after acquiring an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after acquiring an additional 2,350,550 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Gilead Sciences in the 1st quarter worth $134,489,000. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded up $0.51 on Wednesday, reaching $75.26. The company’s stock had a trading volume of 578,750 shares, compared to its average volume of 7,234,467. The company has a 50-day simple moving average of $71.18 and a 200 day simple moving average of $70.16. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08. The company has a market cap of $93.76 billion, a P/E ratio of 207.64, a PEG ratio of 3.37 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 4.09%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s 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 transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Johanna Mercier sold 5,490 shares of the company’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 transaction of $406,150.20. Following the transaction, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

GILD has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. BMO Capital Markets increased their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Morgan Stanley lowered their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.94.

Gilead Sciences 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.