State of Alaska Department of Revenue Has $16.66 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

State of Alaska Department of Revenue cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,407 shares of the biopharmaceutical company's stock after selling 25,164 shares during the period. State of Alaska Department of Revenue's holdings in Gilead Sciences were worth $16,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GILD. Algert Global LLC acquired a new position in shares of Gilead Sciences in the 2nd quarter valued at $254,000. AMF Tjanstepension AB lifted its stake in Gilead Sciences by 14.7% in the third quarter. AMF Tjanstepension AB now owns 400,819 shares of the biopharmaceutical company's stock valued at $33,645,000 after buying an additional 51,390 shares during the period. Czech National Bank grew its position in shares of Gilead Sciences by 6.8% during the 3rd quarter. Czech National Bank now owns 253,618 shares of the biopharmaceutical company's stock worth $21,263,000 after buying an additional 16,209 shares during the period. Aprio Wealth Management LLC acquired a new stake in shares of Gilead Sciences in the 3rd quarter valued at approximately $290,000. Finally, Atomi Financial Group Inc. boosted its stake in Gilead Sciences by 36.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 6,081 shares of the biopharmaceutical company's stock worth $510,000 after acquiring an additional 1,610 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Gilead Sciences stock traded down $2.00 during mid-day trading on Friday, hitting $96.04. 7,182,199 shares of the company's stock traded hands, compared to its average volume of 6,866,207. The firm has a 50 day simple moving average of $93.04 and a two-hundred day simple moving average of $86.76. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The stock has a market cap of $119.69 billion, a price-to-earnings ratio of 1,067.11, a P/E/G ratio of 1.25 and a beta of 0.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $100.51.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.01 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business's revenue was up 7.0% on a year-over-year basis. On average, research analysts expect that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GILD. Robert W. Baird upped their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Barclays lifted their price objective on Gilead Sciences from $84.00 to $95.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. UBS Group raised their target price on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a "neutral" rating in a report on Thursday, November 21st. Leerink Partnrs raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 21st. Finally, Leerink Partners raised shares of Gilead Sciences from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $98.39.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 164,211 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now directly owns 80,801 shares in the company, valued at approximately $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences 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 $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 572,824 shares of company stock worth $53,611,715 in the last 90 days. Company insiders own 0.16% of the company's stock.

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.