Maryland State Retirement & Pension System Grows Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Maryland State Retirement & Pension System raised its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 97,307 shares of the biopharmaceutical company’s stock after purchasing an additional 1,035 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Gilead Sciences were worth $7,883,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Gilead Sciences during the 3rd quarter worth $26,000. Tompkins Financial Corp boosted its holdings in Gilead Sciences by 223.1% in the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Gilead Sciences in the fourth quarter valued at $29,000. Rakuten Securities Inc. acquired a new position in Gilead Sciences in the fourth quarter valued at $33,000. Finally, Financial Connections Group Inc. acquired a new position in Gilead Sciences in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GILD shares. Morgan Stanley cut their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. TD Cowen decreased their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company lowered their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, March 4th. Cantor Fitzgerald reduced their price objective on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a research note on Friday, April 19th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.69.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Up 1.2 %

Shares of NASDAQ:GILD traded up $0.76 during midday trading on Monday, reaching $65.54. The company had a trading volume of 7,186,870 shares, compared to its average volume of 7,456,667. The stock has a market capitalization of $81.60 billion, a P/E ratio of 182.06, a PEG ratio of 1.31 and a beta of 0.22. The stock’s fifty day moving average price is $70.40 and its 200-day moving average price is $75.68. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72. Gilead Sciences, Inc. has a one year low of $64.33 and a one year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Gilead Sciences, Inc. will post 3.74 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

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.