Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,301 shares of the biopharmaceutical company’s stock after selling 6,350 shares during the quarter. State of Alaska Department of Revenue’s holdings in Gilead Sciences were worth $20,114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its holdings in Gilead Sciences by 324.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock worth $1,070,232,000 after buying an additional 13,764,169 shares during the period. Norges Bank acquired a new stake in shares of Gilead Sciences in the fourth quarter worth $1,115,186,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Gilead Sciences by 96,759.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,111,194 shares of the biopharmaceutical company’s stock worth $868,046,000 after purchasing an additional 10,100,755 shares during the last quarter. Renaissance Technologies LLC lifted its position in Gilead Sciences by 70.6% during the first quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock valued at $921,006,000 after purchasing an additional 6,410,047 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Gilead Sciences by 179.0% in the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock valued at $340,526,000 after purchasing an additional 2,915,141 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GILD. Royal Bank of Canada reduced their price objective on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 14th. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. StockNews.com upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Wells Fargo & Company dropped their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, March 4th. Finally, Mizuho decreased their target price on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.36.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total value of $428,900.00. Following the completion of the sale, the chief financial officer now directly owns 101,534 shares in the company, valued at $8,709,586.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total value of $146,360.00. Following the completion of the transaction, the insider now directly owns 100,936 shares in the company, valued at $7,386,496.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 5,000 shares of Gilead Sciences stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $85.78, for a total value of $428,900.00. Following the completion of the sale, the chief financial officer now owns 101,534 shares in the company, valued at approximately $8,709,586.52. The disclosure for this sale can be found here. Insiders have sold 15,242 shares of company stock valued at $1,277,726 in the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded up $0.24 during trading on Friday, reaching $73.25. The stock had a trading volume of 8,369,703 shares, compared to its average volume of 7,477,960. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. Gilead Sciences, Inc. has a 1-year low of $71.37 and a 1-year high of $87.86. The stock has a market cap of $91.20 billion, a PE ratio of 16.28, a PEG ratio of 0.92 and a beta of 0.18. The business has a fifty day moving average price of $74.85 and a 200-day moving average price of $77.26.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.04). The business had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.67 EPS. On average, equities analysts forecast that Gilead Sciences, Inc. will post 7.07 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.77 dividend. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.20%. Gilead Sciences’s dividend payout ratio is presently 68.44%.

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.