Retirement Systems of Alabama Has $63.87 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Retirement Systems of Alabama trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 761,854 shares of the biopharmaceutical company's stock after selling 50,490 shares during the period. Retirement Systems of Alabama owned approximately 0.06% of Gilead Sciences worth $63,874,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Gilead Sciences during the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC lifted its position in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 161 shares during the period. CarsonAllaria Wealth Management Ltd. grew its position in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 238 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences during the second quarter valued at $33,000. Finally, Cedar Wealth Management LLC grew its holdings in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Up 0.3 %

GILD traded up $0.24 during trading on Friday, hitting $91.86. The company had a trading volume of 6,888,210 shares, compared to its average volume of 7,068,425. The company has a market capitalization of $114.48 billion, a PE ratio of 1,026.44, a PEG ratio of 2.38 and a beta of 0.18. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The firm's 50-day moving average price is $89.82 and its 200 day moving average price is $79.26.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 EPS. As a group, equities analysts expect that Gilead Sciences, Inc. will post 4.35 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, December 13th. Gilead Sciences's dividend payout ratio (DPR) is currently 3,422.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Truist Financial boosted their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Maxim Group lowered Gilead Sciences from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on Gilead Sciences from $80.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Oppenheimer raised their target price on Gilead Sciences from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Wolfe Research initiated coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They set an "outperform" rating and a $110.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating, twelve have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.43.

Insider Buying and Selling at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 248,645 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the transaction, the chief financial officer now directly owns 138,919 shares of the company's stock, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 447,234 shares of company stock worth $41,288,086. Insiders own 0.16% of the company's stock.

About Gilead Sciences

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.