California Public Employees Retirement System Sells 512,416 Shares of Gilead Sciences, Inc. $GILD

California Public Employees Retirement System trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,175,572 shares of the biopharmaceutical company’s stock after selling 512,416 shares during the quarter. California Public Employees Retirement System owned approximately 0.34% of Gilead Sciences worth $462,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Gilead Sciences by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 119,364,226 shares of the biopharmaceutical company’s stock worth $13,233,912,000 after acquiring an additional 1,893,401 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Gilead Sciences by 2.6% during the second quarter. Geode Capital Management LLC now owns 29,207,662 shares of the biopharmaceutical company’s stock worth $3,231,548,000 after purchasing an additional 727,515 shares during the last quarter. Norges Bank acquired a new stake in shares of Gilead Sciences in the second quarter valued at $2,150,268,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Gilead Sciences by 314.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company’s stock valued at $1,647,484,000 after buying an additional 11,156,382 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Gilead Sciences by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,755,481 shares of the biopharmaceutical company’s stock worth $1,541,302,000 after buying an additional 1,520,809 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Price Performance

GILD opened at $121.22 on Friday. The company has a fifty day moving average price of $120.94 and a two-hundred day moving average price of $115.29. The firm has a market capitalization of $150.40 billion, a PE ratio of 18.79, a P/E/G ratio of 0.67 and a beta of 0.32. Gilead Sciences, Inc. has a 52 week low of $88.57 and a 52 week high of $128.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.31. Gilead Sciences had a return on equity of 51.86% and a net margin of 27.88%.The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period last year, the company earned $2.02 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, December 15th. Gilead Sciences’s payout ratio is presently 48.99%.

Insider Activity at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 5,000 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $125.08, for a total value of $625,400.00. Following the completion of the sale, the director directly owned 8,920 shares of the company’s stock, valued at $1,115,713.60. This represents a 35.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kelly A. Kramer sold 2,806 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $127.11, for a total transaction of $356,670.66. Following the transaction, the director directly owned 1,339 shares in the company, valued at $170,200.29. The trade was a 67.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 135,757 shares of company stock worth $16,616,127. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on GILD shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $135.00 target price on shares of Gilead Sciences in a research note on Friday, October 31st. Royal Bank Of Canada boosted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gilead Sciences in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, TD Cowen upped their price target on Gilead Sciences from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $130.65.

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.