California State Teachers Retirement System Has $30.47 Billion Stake in Gilead Sciences, Inc. $GILD

Key Points

• California State Teachers Retirement System dramatically increased its Gilead Sciences stake by 12,498.3% in the second quarter, owning 241.2 million shares worth approximately $30.47 billion, or 19.45% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $158.04. Gilead reported quarterly revenue of $7.8 billion, exceeding expectations, while revenue rose 10.6% year over year.
• Gilead declared a quarterly dividend of $0.82 per share, equivalent to an annualized $3.28 payout and a 2.2% yield. Shares recently traded at $150.99, near the company’s 12-month high of $157.29.

California State Teachers Retirement System increased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 12,498.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 241,168,657 shares of the biopharmaceutical company's stock after acquiring an additional 239,254,365 shares during the quarter. California State Teachers Retirement System owned about 19.45% of Gilead Sciences worth $30,469,248,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Persistent Asset Partners Ltd bought a new stake in shares of Gilead Sciences during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences during the 4th quarter worth approximately $25,000. Kimelman & Baird LLC bought a new stake in Gilead Sciences in the 2nd quarter valued at $25,000. Vermillion & White Wealth Management Group LLC grew its holdings in Gilead Sciences by 71.4% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 85 shares in the last quarter. Finally, Quattro Advisors LLC bought a new position in Gilead Sciences during the 4th quarter worth $26,000. Institutional investors own 83.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GILD. Morgan Stanley reduced their target price on shares of Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating for the company in a research report on Monday, July 27th. HSBC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price objective for the company from $133.00 to $155.00 in a report on Monday, July 6th. Daiwa Securities Group dropped their price target on shares of Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday, May 19th. Barclays reduced their price target on Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. Finally, Truist Financial dropped their price objective on Gilead Sciences from $157.00 to $156.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $158.04.

Gilead Sciences Price Performance

Shares of GILD stock opened at $150.99 on Tuesday. The business has a fifty day simple moving average of $137.17 and a 200 day simple moving average of $136.36. The company has a market cap of $187.22 billion, a P/E ratio of -56.55 and a beta of 0.33. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a twelve month low of $108.46 and a twelve month high of $157.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping analysts' consensus estimates of ($7.25) by $0.50. The firm had revenue of $7.80 billion during the quarter, compared to analysts' expectations of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 earnings per share. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post -0.48 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. Gilead Sciences's dividend payout ratio is -122.85%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the sale, the insider owned 118,234 shares of the company's stock, valued at $16,273,727.76. This trade represents a 19.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Welters sold 18,000 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $148.62, for a total value of $2,675,160.00. Following the sale, the director owned 12,894 shares in the company, valued at $1,916,306.28. This represents a 58.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 105,000 shares of company stock worth $14,495,820 in the last ninety days. Insiders own 0.30% of the company's stock.

Gilead Sciences Company Profile

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.

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