Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.0% during the 4th quarter, Holdings Channel reports. The firm owned 338,295 shares of the biopharmaceutical company’s stock after selling 33,548 shares during the quarter. State of Michigan Retirement System’s holdings in Gilead Sciences were worth $31,248,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Gilead Sciences by 12.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 45,818 shares of the biopharmaceutical company’s stock worth $4,232,000 after acquiring an additional 5,116 shares during the last quarter. Schechter Investment Advisors LLC boosted its stake in shares of Gilead Sciences by 3.3% in the fourth quarter. Schechter Investment Advisors LLC now owns 7,681 shares of the biopharmaceutical company’s stock worth $710,000 after acquiring an additional 243 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in shares of Gilead Sciences by 2.4% in the fourth quarter. Meridian Wealth Management LLC now owns 43,475 shares of the biopharmaceutical company’s stock worth $4,016,000 after acquiring an additional 1,026 shares during the last quarter. Sage Rhino Capital LLC acquired a new stake in shares of Gilead Sciences in the fourth quarter worth approximately $209,000. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Gilead Sciences by 4.8% in the fourth quarter. Fidelis Capital Partners LLC now owns 4,709 shares of the biopharmaceutical company’s stock worth $463,000 after acquiring an additional 215 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on GILD shares. DZ Bank raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Thursday, February 13th. Bank of America reiterated a “buy” rating and set a $109.00 price objective on shares of Gilead Sciences in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Barclays lifted their price objective on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, Daiwa America upgraded Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.08.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 293,356 shares of company stock valued at $29,166,240. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Trading Up 1.5 %

GILD opened at $115.99 on Tuesday. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $117.16. The stock has a market capitalization of $144.55 billion, a price-to-earnings ratio of 313.49, a PEG ratio of 0.71 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The business has a fifty day moving average price of $97.87 and a 200 day moving average price of $90.45.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.79 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio is currently 854.05%.

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.