State of Tennessee Department of Treasury Has $48.61 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

State of Tennessee Department of Treasury trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 526,211 shares of the biopharmaceutical company’s stock after selling 25,439 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Gilead Sciences were worth $48,606,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in GILD. Nicolet Advisory Services LLC lifted its position in shares of Gilead Sciences by 2.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company’s stock worth $322,000 after purchasing an additional 100 shares during the period. Southland Equity Partners LLC raised its stake in Gilead Sciences by 3.6% during the fourth quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 110 shares during the last quarter. Berkshire Bank raised its stake in Gilead Sciences by 3.4% during the fourth quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock worth $314,000 after buying an additional 111 shares during the last quarter. CFO4Life Group LLC lifted its holdings in Gilead Sciences by 2.7% in the fourth quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company’s stock valued at $394,000 after buying an additional 112 shares during the period. Finally, Howe & Rusling Inc. boosted its position in Gilead Sciences by 2.5% during the fourth quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company’s stock valued at $435,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $104.49 on Monday. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $119.96. The company’s 50 day moving average price is $109.16 and its two-hundred day moving average price is $97.63. The stock has a market cap of $130.10 billion, a P/E ratio of 282.40, a P/E/G ratio of 0.71 and a beta of 0.32. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. On average, equities analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

Analyst Ratings Changes

GILD has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. DZ Bank upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Thursday, February 13th. Morgan Stanley lifted their price objective on shares of Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group increased their target price on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.12.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $104.09, for a total value of $260,225.00. Following the completion of the sale, the chief financial officer now directly owns 169,061 shares of the company’s stock, valued at $17,597,559.49. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 302,785 shares of company stock valued at $30,540,875. Company insiders own 0.27% of the company’s stock.

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.