New York State Common Retirement Fund Lowers Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

New York State Common Retirement Fund reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 12.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,712,565 shares of the biopharmaceutical company’s stock after selling 245,800 shares during the period. New York State Common Retirement Fund’s holdings in Gilead Sciences were worth $143,581,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. nVerses Capital LLC bought a new position in Gilead Sciences during the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC lifted its stake in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in Gilead Sciences during the 1st quarter valued at $29,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences in the second quarter worth $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,033,340 over the last ninety days. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 0.0 %

Shares of NASDAQ:GILD traded up $0.03 during midday trading on Friday, reaching $88.85. 469,973 shares of the company’s stock were exchanged, compared to its average volume of 6,994,533. The firm’s 50 day simple moving average is $83.54 and its two-hundred day simple moving average is $73.97. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $89.74. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The stock has a market cap of $110.62 billion, a price-to-earnings ratio of 108.32, a P/E/G ratio of 3.07 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The business had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 3.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GILD has been the subject of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $75.00 target price on shares of Gilead Sciences in a report on Tuesday. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Truist Financial boosted their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.85.

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.