Kentucky Retirement Systems Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Kentucky Retirement Systems lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,883 shares of the biopharmaceutical company’s stock after selling 742 shares during the period. Kentucky Retirement Systems’ holdings in Gilead Sciences were worth $6,441,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. Sachetta LLC acquired a new position in Gilead Sciences during the 4th quarter worth $30,000. Palisade Asset Management LLC purchased a new stake in Gilead Sciences during the 1st quarter worth about $29,000. Frank Rimerman Advisors LLC acquired a new stake in Gilead Sciences in the 4th quarter valued at about $36,000. Finally, Fortis Group Advisors LLC boosted its stake in shares of Gilead Sciences by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 246 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock valued at $3,002,940 over the last quarter. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $83.89 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The business has a 50 day simple moving average of $76.40 and a 200-day simple moving average of $71.09. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The stock has a market capitalization of $104.51 billion, a PE ratio of 233.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The business had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Equities analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.67%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. BMO Capital Markets lifted their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a report on Monday. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Finally, Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

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.