New York State Teachers Retirement System Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

New York State Teachers Retirement System reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,137,443 shares of the biopharmaceutical company’s stock after selling 51,414 shares during the period. New York State Teachers Retirement System’s holdings in Gilead Sciences were worth $105,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GILD. Bellevue Group AG raised its holdings in Gilead Sciences by 18.2% in the 3rd quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock worth $3,859,000 after purchasing an additional 7,093 shares during the period. Quantinno Capital Management LP raised its holdings in Gilead Sciences by 149.5% in the 3rd quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock worth $6,843,000 after purchasing an additional 48,910 shares during the period. McAdam LLC raised its holdings in Gilead Sciences by 16.7% in the 4th quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock worth $2,344,000 after purchasing an additional 3,627 shares during the period. IRON Financial LLC bought a new position in Gilead Sciences in the 3rd quarter worth $830,000. Finally, Capital Investment Advisors LLC raised its holdings in Gilead Sciences by 2.6% in the 4th quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock worth $35,793,000 after purchasing an additional 9,791 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Up 2.6 %

Shares of NASDAQ:GILD opened at $105.96 on Friday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $106.43. The business has a 50 day simple moving average of $93.38 and a two-hundred day simple moving average of $87.24. The firm has a market capitalization of $132.05 billion, a PE ratio of 1,177.33, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. On average, equities analysts predict that Gilead Sciences, Inc. will post 4.35 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is 3,422.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GILD. BMO Capital Markets raised their target price on Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday. Wolfe Research initiated coverage on Gilead Sciences in a report on Friday, November 15th. They set an “outperform” rating and a $110.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Wednesday. Robert W. Baird raised their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Mizuho raised their price target on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Eleven analysts have rated the stock with a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $101.33.

Insider Buying and Selling at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the sale, the chief financial officer now owns 129,873 shares in the company, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares of the company’s stock, valued at $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 710,500 shares of company stock worth $67,684,956 over the last 90 days. Company insiders own 0.16% of the company’s stock.

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.