New York State Common Retirement Fund Has $176.75 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

New York State Common Retirement Fund decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,577,417 shares of the biopharmaceutical company's stock after selling 54,671 shares during the period. New York State Common Retirement Fund owned 0.13% of Gilead Sciences worth $176,750,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bridgewater Associates LP grew its position in Gilead Sciences by 122.7% in the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock worth $42,577,000 after buying an additional 253,994 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after buying an additional 14,009 shares during the last quarter. Golden State Wealth Management LLC grew its position in Gilead Sciences by 14.5% in the first quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after buying an additional 109 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in Gilead Sciences by 54.6% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock worth $3,422,000 after buying an additional 13,086 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in Gilead Sciences in the fourth quarter worth approximately $1,699,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GILD shares. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Morgan Stanley boosted their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Oppenheimer cut their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $111.38.

Insider Buying and Selling

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $110.45, for a total value of $1,104,500.00. Following the completion of the sale, the chief executive officer directly owned 615,725 shares in the company, valued at approximately $68,006,826.25. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $110.17, for a total transaction of $275,425.00. Following the completion of the sale, the chief financial officer owned 165,110 shares of the company's stock, valued at $18,190,168.70. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,500 shares of company stock worth $6,340,745. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Stock Down 4.3%

Shares of Gilead Sciences stock traded down $4.90 on Friday, hitting $109.64. 6,115,020 shares of the company traded hands, compared to its average volume of 7,702,954. The company has a 50-day moving average price of $107.74 and a 200 day moving average price of $104.68. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a 12-month low of $70.21 and a 12-month high of $119.96. The company has a market cap of $136.38 billion, a PE ratio of 23.08, a PEG ratio of 0.71 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. Gilead Sciences's revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.32) EPS. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, June 13th. Gilead Sciences's dividend payout ratio is presently 66.53%.

Gilead Sciences Company 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.