Teacher Retirement System of Texas Sells 61,158 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Teacher Retirement System of Texas decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 381,421 shares of the biopharmaceutical company’s stock after selling 61,158 shares during the quarter. Teacher Retirement System of Texas’ holdings in Gilead Sciences were worth $42,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GILD. FMR LLC lifted its holdings in Gilead Sciences by 21.6% in the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after buying an additional 7,157,113 shares during the period. Wellington Management Group LLP raised its position in shares of Gilead Sciences by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock worth $3,293,822,000 after purchasing an additional 1,058,331 shares during the last quarter. Geode Capital Management LLC raised its holdings in Gilead Sciences by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock worth $2,608,337,000 after buying an additional 749,047 shares during the last quarter. Norges Bank bought a new stake in shares of Gilead Sciences in the 4th quarter worth $1,789,254,000. Finally, Northern Trust Corp raised its position in Gilead Sciences by 19.7% in the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock worth $1,377,707,000 after buying an additional 2,458,954 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Daniel Patrick O’day sold 10,000 shares of Gilead Sciences stock in a transaction on Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the sale, the chief executive officer owned 620,268 shares of the company’s stock, valued at approximately $68,489,992.56. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider directly owned 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,500 shares of company stock valued at $6,340,745. 0.27% of the stock is owned by company insiders.

Gilead Sciences Trading Down 0.2%

Shares of NASDAQ:GILD opened at $111.51 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. Gilead Sciences, Inc. has a 1 year low of $66.01 and a 1 year high of $119.96. The firm has a market capitalization of $138.71 billion, a P/E ratio of 23.48, a P/E/G ratio of 0.72 and a beta of 0.29. The business’s 50-day moving average is $106.75 and its 200 day moving average is $103.67.

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

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, June 13th. Gilead Sciences’s payout ratio is currently 66.53%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Oppenheimer cut their price objective on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Wells Fargo & Company increased their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Cantor Fitzgerald assumed 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. 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 equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.55.

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.