Alaska Permanent Fund Corp Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Alaska Permanent Fund Corp reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,378 shares of the biopharmaceutical company's stock after selling 25,031 shares during the period. Alaska Permanent Fund Corp's holdings in Gilead Sciences were worth $14,369,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Harvest Fund Management Co. Ltd grew its position in shares of Gilead Sciences by 11.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 10,950 shares of the biopharmaceutical company's stock worth $887,000 after buying an additional 1,145 shares in the last quarter. South Dakota Investment Council raised its stake in shares of Gilead Sciences by 3.3% during the fourth quarter. South Dakota Investment Council now owns 222,411 shares of the biopharmaceutical company's stock valued at $18,018,000 after purchasing an additional 7,025 shares in the last quarter. NewSquare Capital LLC raised its stake in shares of Gilead Sciences by 2.4% during the fourth quarter. NewSquare Capital LLC now owns 53,336 shares of the biopharmaceutical company's stock valued at $4,264,000 after purchasing an additional 1,247 shares in the last quarter. Cutter & CO Brokerage Inc. raised its position in Gilead Sciences by 4.5% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 4,173 shares of the biopharmaceutical company's stock worth $338,000 after acquiring an additional 180 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in Gilead Sciences in the fourth quarter worth about $525,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the firm's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GILD shares. StockNews.com cut Gilead Sciences from a "strong-buy" rating to a "buy" rating in a research note on Friday, April 19th. UBS Group reduced their target price on Gilead Sciences from $81.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 17th. Barclays reduced their target price on Gilead Sciences from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Monday, February 12th. Royal Bank of Canada cut their price target on Gilead Sciences from $76.00 to $75.00 and set a "sector perform" rating for the company in a report on Wednesday, February 14th. Finally, Cantor Fitzgerald cut their price target on Gilead Sciences from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $84.57.

Gilead Sciences Stock Performance

GILD stock traded down $1.81 during midday trading on Thursday, hitting $65.27. The stock had a trading volume of 15,163,484 shares, compared to its average volume of 7,415,576. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The stock has a 50-day simple moving average of $71.40 and a 200 day simple moving average of $76.32. Gilead Sciences, Inc. has a 52 week low of $65.09 and a 52 week high of $87.86. The firm has a market capitalization of $81.27 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 0.96 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The firm had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same period in the prior year, the company posted $1.37 earnings per share. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 5.24 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.77 per share. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.72%. The ex-dividend date was Thursday, March 14th. Gilead Sciences's dividend payout ratio is currently 68.44%.

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.