Teachers Retirement System of The State of Kentucky Purchases 188,941 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Teachers Retirement System of The State of Kentucky grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 204.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 281,233 shares of the biopharmaceutical company's stock after purchasing an additional 188,941 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Gilead Sciences were worth $31,512,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its holdings in Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after purchasing an additional 2,450 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $339,000. Lee Danner & Bass Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter valued at $41,000. Wayfinding Financial LLC acquired a new stake in Gilead Sciences during the 4th quarter worth $238,000. Finally, Summit Global Investments bought a new position in Gilead Sciences during the fourth quarter worth about $4,718,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Analyst Ratings Changes

GILD has been the subject of several recent analyst reports. Cantor Fitzgerald started coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Oppenheimer lowered their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Finally, Morgan Stanley increased their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of "Moderate Buy" and an average price target of $111.38.

Gilead Sciences Stock Down 0.5%

Shares of NASDAQ:GILD traded down $0.58 during midday trading on Friday, reaching $108.22. The company had a trading volume of 6,627,889 shares, compared to its average volume of 7,673,118. Gilead Sciences, Inc. has a 1-year low of $70.78 and a 1-year high of $119.96. The stock has a market cap of $134.62 billion, a PE ratio of 22.78, a P/E/G ratio of 0.70 and a beta of 0.29. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The business's 50 day moving average price is $108.81 and its 200 day moving average price is $105.26.

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

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.92%. The ex-dividend date was Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is currently 66.53%.

Insider Activity

In other news, insider Johanna Mercier sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $333,090.00. Following the completion of the sale, the insider directly owned 117,168 shares of the company's stock, valued at $13,009,163.04. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $110.45, for a total value of $1,104,500.00. Following the transaction, the chief executive officer owned 615,725 shares of the company's stock, valued at $68,006,826.25. This represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,000 shares of company stock valued at $7,844,775. 0.27% of the stock is owned by insiders.

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.