Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 13.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 272,384 shares of the biopharmaceutical company’s stock after buying an additional 32,721 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Gilead Sciences were worth $18,688,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GILD. Private Wealth Management Group LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at approximately $29,000. CarsonAllaria Wealth Management Ltd. grew its position in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares during the last quarter. Sachetta LLC acquired a new position in Gilead Sciences in the 4th quarter valued at $30,000. Palisade Asset Management LLC acquired a new position in Gilead Sciences during the 1st quarter worth approximately $29,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Gilead Sciences in the fourth quarter worth $36,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded down $0.05 during midday trading on Friday, hitting $78.72. The company’s stock had a trading volume of 9,220,980 shares, compared to its average volume of 7,163,236. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The firm’s fifty day moving average price is $74.06 and its 200-day moving average price is $70.57. The firm has a market cap of $98.07 billion, a P/E ratio of 218.67, a P/E/G ratio of 2.74 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.40. The business had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.91%. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GILD shares. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Royal Bank of Canada increased their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday. Finally, Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.06.

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.