Retirement Systems of Alabama Sells 7,120 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Retirement Systems of Alabama decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,616 shares of the biopharmaceutical company’s stock after selling 7,120 shares during the period. Retirement Systems of Alabama’s holdings in Gilead Sciences were worth $22,247,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Nilsine Partners LLC grew its position in Gilead Sciences by 1.1% in the third quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock worth $891,000 after acquiring an additional 127 shares in the last quarter. Etesian Wealth Advisors Inc. lifted its stake in Gilead Sciences by 0.7% during the fourth quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock worth $1,486,000 after purchasing an additional 128 shares during the last quarter. Financial Counselors Inc. increased its position in shares of Gilead Sciences by 1.5% during the 4th quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after purchasing an additional 128 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Gilead Sciences by 3.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 130 shares in the last quarter. Finally, Institutional & Family Asset Management LLC lifted its position in Gilead Sciences by 10.3% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 140 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GILD shares. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research report on Wednesday, April 24th. Barclays reduced their target price on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday. Wells Fargo & Company lowered their price target on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research note on Monday, March 4th. Morgan Stanley reduced their price objective on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, TD Cowen lowered their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $83.60.

Gilead Sciences Price Performance

GILD opened at $65.94 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98. The stock has a market capitalization of $82.10 billion, a PE ratio of 183.17, a price-to-earnings-growth ratio of 1.29 and a beta of 0.19. The stock’s 50 day moving average price is $71.16 and its 200-day moving average price is $76.17. Gilead Sciences, Inc. has a 52-week low of $64.63 and a 52-week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. During the same quarter in the previous year, the business posted $1.37 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Gilead Sciences, Inc. will post 3.82 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s payout ratio is currently 855.56%.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

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.