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

State of Alaska Department of Revenue boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 184,322 shares of the biopharmaceutical company’s stock after buying an additional 3,915 shares during the quarter. State of Alaska Department of Revenue’s holdings in Gilead Sciences were worth $20,652,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Gilead Sciences by 21.6% in the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after acquiring an additional 7,157,113 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Gilead Sciences by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock valued at $3,293,822,000 after purchasing an additional 1,058,331 shares during the period. Geode Capital Management LLC increased its stake in Gilead Sciences by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock worth $2,608,337,000 after purchasing an additional 749,047 shares in the last quarter. Norges Bank acquired a new stake in Gilead Sciences during the 4th quarter worth about $1,789,254,000. Finally, Northern Trust Corp lifted its stake in Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock valued at $1,377,707,000 after buying an additional 2,458,954 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Oppenheimer dropped their price target on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Bank of America raised their price objective on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald initiated coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $110.55.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $99.82, for a total value of $249,550.00. Following the sale, the chief financial officer now directly owns 165,674 shares in the company, valued at approximately $16,537,578.68. This represents a 1.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 3,000 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $110.17, for a total transaction of $330,510.00. Following the completion of the sale, the insider now owns 120,168 shares in the company, valued at $13,238,908.56. This represents a 2.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,500 shares of company stock worth $5,236,245. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Stock Down 2.6%

Shares of GILD stock opened at $108.00 on Wednesday. Gilead Sciences, Inc. has a twelve month low of $62.69 and a twelve month high of $119.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. The stock’s 50 day simple moving average is $105.88 and its 200 day simple moving average is $102.49. The company has a market capitalization of $134.34 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 0.72 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The company had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same period in the prior year, the business earned ($1.32) earnings per share. Gilead Sciences’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.93%. Gilead Sciences’s dividend payout ratio (DPR) is 66.53%.

About Gilead Sciences

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.