State of Alaska Department of Revenue Cuts Stock Holdings in Gilead Sciences, Inc. $GILD

State of Alaska Department of Revenue trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 169,983 shares of the biopharmaceutical company’s stock after selling 8,054 shares during the period. State of Alaska Department of Revenue’s holdings in Gilead Sciences were worth $18,867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in Gilead Sciences by 1.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 366,276 shares of the biopharmaceutical company’s stock valued at $40,657,000 after purchasing an additional 3,760 shares during the period. G&S Capital LLC raised its position in Gilead Sciences by 0.7% in the third quarter. G&S Capital LLC now owns 23,489 shares of the biopharmaceutical company’s stock worth $2,607,000 after acquiring an additional 164 shares during the period. Invested Advisors bought a new stake in Gilead Sciences in the third quarter worth about $601,000. Steigerwald Gordon & Koch Inc. purchased a new position in Gilead Sciences in the third quarter valued at about $163,000. Finally, Venturi Wealth Management LLC grew its position in shares of Gilead Sciences by 14.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,822 shares of the biopharmaceutical company’s stock valued at $424,000 after acquiring an additional 491 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $120.67 on Friday. The firm has a 50 day moving average of $123.24 and a 200-day moving average of $117.41. The firm has a market capitalization of $149.71 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 0.66 and a beta of 0.33. Gilead Sciences, Inc. has a 12 month low of $88.57 and a 12 month high of $128.70. The company has a current ratio of 1.45, a quick ratio of 1.31 and a debt-to-equity ratio of 1.03.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.16 by $0.31. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.42 billion. Gilead Sciences had a net margin of 27.88% and a return on equity of 51.86%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, December 15th. Gilead Sciences’s payout ratio is presently 48.99%.

Insiders Place Their Bets

In related news, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $119.39, for a total value of $1,193,900.00. Following the transaction, the chief executive officer directly owned 581,203 shares in the company, valued at approximately $69,389,826.17. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $125.86, for a total transaction of $3,524,080.00. Following the completion of the sale, the insider directly owned 107,193 shares in the company, valued at $13,491,310.98. This represents a 20.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 136,257 shares of company stock worth $16,855,192. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GILD shares. Rothschild & Co Redburn boosted their target price on Gilead Sciences from $143.00 to $153.00 in a research note on Monday, November 10th. Mizuho lifted their price objective on Gilead Sciences from $131.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Needham & Company LLC upped their price objective on shares of Gilead Sciences from $133.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Sanford C. Bernstein set a $135.00 price target on shares of Gilead Sciences and gave the company an “outperform” rating in a research note on Monday, December 29th. Finally, Citigroup raised their price objective on shares of Gilead Sciences from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.20.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.