Gilead Sciences, Inc. $GILD Stock: State of Alaska Department of Revenue Decreases Stake

State of Alaska Department of Revenue lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 151,740 shares of the biopharmaceutical company’s stock after selling 4,196 shares during the period. State of Alaska Department of Revenue’s holdings in Gilead Sciences were worth $22,616,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Gilead Sciences in the second quarter worth $15,393,785,000. State Street Corp lifted its holdings in Gilead Sciences by 2.3% in the second quarter. State Street Corp now owns 61,216,552 shares of the biopharmaceutical company’s stock valued at $7,734,099,000 after acquiring an additional 1,357,967 shares during the period. Invesco Ltd. boosted its position in Gilead Sciences by 2.9% in the 4th quarter. Invesco Ltd. now owns 15,584,341 shares of the biopharmaceutical company’s stock worth $1,912,822,000 after purchasing an additional 444,660 shares in the last quarter. Amundi boosted its position in Gilead Sciences by 10.7% in the 1st quarter. Amundi now owns 10,539,111 shares of the biopharmaceutical company’s stock worth $1,468,836,000 after purchasing an additional 1,018,976 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth approximately $1,316,606,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Gilead Sciences

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: New solid-tumor cancer partnership expands Gilead’s pipeline. Gilead and Vir will discover and develop three dual-masked PRO-XTEN® T-cell engager candidates for solid tumors. Gilead receives exclusive development and commercialization rights, giving it access to Vir’s immunology and antibody-engineering technology. The deal strengthens Gilead’s longer-term oncology opportunity, although the programs remain in development. Vir Biotechnology and Gilead collaborate on novel cancer therapeutics
• Positive Sentiment: Analyst sentiment includes bullish views. Recent coverage identifies Gilead among healthcare stocks attracting positive analyst attention, which may reinforce investor confidence in the company’s earnings, dividend profile and pipeline prospects. Analysts Are Bullish on These Healthcare Stocks
• Positive Sentiment: Recent trading momentum is favorable. GILD has moved above its February peak and remains well above its 50-day and 200-day moving averages. Its latest reported quarterly results also exceeded consensus expectations for earnings and revenue, supporting the stock’s fundamental momentum. Gilead Sciences Clears Its February High
• Neutral Sentiment: Investor attention has increased, but the outlook is not uniformly bullish. Zacks highlighted elevated interest in Gilead, while separate coverage noted conflicting analyst sentiment. This may increase trading activity without establishing a clear consensus on valuation or future performance. Gilead Sciences Is Attracting Investor Attention

Gilead Sciences Trading Up 3.8%

Shares of Gilead Sciences stock traded up $5.80 during mid-day trading on Thursday, hitting $159.34. The stock had a trading volume of 3,193,259 shares, compared to its average volume of 6,790,415. The firm has a 50-day moving average of $146.20 and a two-hundred day moving average of $136.99. The firm has a market cap of $197.57 billion, a P/E ratio of -59.74 and a beta of 0.31. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a 12-month low of $114.02 and a 12-month high of $160.51.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The firm had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same quarter in the previous year, the company earned $2.01 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that Gilead Sciences, Inc. will post -0.47 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Gilead Sciences’s payout ratio is -122.85%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GILD shares. Needham & Company LLC reiterated a “buy” rating and issued a $170.00 target price on shares of Gilead Sciences in a research note on Wednesday, August 5th. Leerink Partners cut Gilead Sciences from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $146.00 to $127.00 in a research report on Tuesday, July 21st. Zacks Research lowered Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Morgan Stanley reduced their price target on Gilead Sciences from $165.00 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. Finally, Weiss Ratings upgraded Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 14th. Twenty-three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.33.

Insider Transactions at Gilead Sciences

In related news, CEO Daniel O’Day sold 15,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $148.64, for a total value of $2,229,600.00. Following the completion of the sale, the chief executive officer owned 577,133 shares in the company, valued at approximately $85,785,049.12. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Welters sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $148.62, for a total value of $2,675,160.00. Following the completion of the sale, the director directly owned 12,894 shares in the company, valued at approximately $1,916,306.28. The trade was a 58.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 105,000 shares of company stock worth $14,940,540. 0.30% of the stock is owned by company insiders.

Gilead Sciences Company Profile

Gilead Sciences, Inc (NASDAQ: GILD) is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. Its research and commercial activities focus primarily on virology, including HIV, hepatitis B and hepatitis C, as well as oncology, inflammation and other areas of significant unmet medical need.

Gilead’s portfolio includes HIV treatments such as Biktarvy, Descovy, Genvoya and Sunlenca; hepatitis therapies including Epclusa, Harvoni and Vemlidy; and Veklury (remdesivir), an antiviral used to treat COVID-19 in certain patients.