Gilead Sciences, Inc. $GILD Shares Acquired by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System raised its stake in Gilead Sciences, Inc. by 1.8%, owning approximately 1,123,885 shares valued at $124.6 million as of the end of the last quarter.
• Gilead reported earnings of $2.01 per share for Q2 2023, surpassing analyst expectations, with revenue increasing 1.4% year-over-year.
• The company has announced a quarterly dividend of $0.79 per share, equivalent to an annual yield of 2.7%.

New York State Teachers Retirement System increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,123,885 shares of the biopharmaceutical company's stock after purchasing an additional 19,842 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Gilead Sciences worth $124,605,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Gilead Sciences by 1.7% in the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock worth $13,162,606,000 after purchasing an additional 1,942,433 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Gilead Sciences by 314.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company's stock worth $1,647,484,000 after purchasing an additional 11,156,382 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Gilead Sciences by 12.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,755,481 shares of the biopharmaceutical company's stock worth $1,541,302,000 after purchasing an additional 1,520,809 shares during the period. Nuveen LLC acquired a new stake in Gilead Sciences in the first quarter worth about $620,415,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Gilead Sciences by 12.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,742,656 shares of the biopharmaceutical company's stock worth $414,948,000 after purchasing an additional 417,237 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Price Performance

NASDAQ GILD opened at $118.30 on Thursday. The stock's 50-day moving average price is $115.00 and its two-hundred day moving average price is $110.41. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. The company has a market cap of $146.79 billion, a PE ratio of 23.57, a PEG ratio of 0.81 and a beta of 0.34. Gilead Sciences, Inc. has a 1 year low of $85.60 and a 1 year high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.05. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. On average, analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, September 15th. Gilead Sciences's payout ratio is 62.95%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the transaction, the insider owned 114,168 shares of the company's stock, valued at $13,532,333.04. The trade was a 19.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $113.63, for a total value of $1,136,300.00. Following the transaction, the chief executive officer directly owned 595,725 shares in the company, valued at approximately $67,692,231.75. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,000 shares of company stock valued at $7,632,100 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on GILD. JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $135.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Cantor Fitzgerald boosted their price target on shares of Gilead Sciences from $129.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, October 9th. Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price target for the stock from $108.00 to $127.00 in a research report on Friday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Gilead Sciences in a research report on Wednesday, October 8th. Finally, UBS Group boosted their price target on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Gilead Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $118.08.

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.

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