Maryland State Retirement & Pension System Has $6.20 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Maryland State Retirement & Pension System cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,136 shares of the biopharmaceutical company's stock after selling 4,844 shares during the quarter. Maryland State Retirement & Pension System's holdings in Gilead Sciences were worth $6,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. HHM Wealth Advisors LLC raised its position in Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership purchased a new position in shares of Gilead Sciences in the 4th quarter valued at about $28,000. Decker Retirement Planning Inc. acquired a new position in Gilead Sciences during the fourth quarter worth $29,000. Crews Bank & Trust acquired a new position in shares of Gilead Sciences during the 4th quarter worth about $31,000. Finally, Stephens Consulting LLC lifted its stake in Gilead Sciences by 325.0% in the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of GILD stock traded down $0.34 during midday trading on Monday, reaching $106.74. 8,562,938 shares of the company were exchanged, compared to its average volume of 6,800,396. The company's 50 day moving average price is $103.68 and its two-hundred day moving average price is $93.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The company has a market cap of $132.93 billion, a P/E ratio of 288.49, a PEG ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $119.96.

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Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share 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, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Gilead Sciences's previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences's dividend payout ratio (DPR) is presently 854.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GILD shares. Piper Sandler lifted their target price on Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped their target price on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $80.00 price objective on shares of Gilead Sciences in a report on Wednesday, December 11th. Morgan Stanley lifted their target price on shares of Gilead Sciences from $123.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Finally, 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 research note on Thursday, February 13th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and a consensus target price of $104.52.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the completion of the sale, the chief financial officer now directly owns 169,061 shares of the company's stock, valued at approximately $19,977,938.37. The trade was a 9.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 302,785 shares of company stock worth $30,503,250 in the last 90 days. 0.16% of the stock is owned by company insiders.

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.