State of Michigan Retirement System reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 60.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,260 shares of the biopharmaceutical company’s stock after selling 485,664 shares during the quarter. State of Michigan Retirement System’s holdings in Gilead Sciences were worth $24,641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GILD. Capital Research Global Investors increased its stake in Gilead Sciences by 12.7% in the 1st quarter. Capital Research Global Investors now owns 95,982,319 shares of the biopharmaceutical company’s stock valued at $7,175,643,000 after buying an additional 10,849,434 shares during the last quarter. Capital International Investors increased its stake in Gilead Sciences by 336.8% in the 1st quarter. Capital International Investors now owns 56,369,657 shares of the biopharmaceutical company’s stock valued at $4,214,200,000 after buying an additional 43,464,551 shares during the last quarter. Capital World Investors increased its stake in Gilead Sciences by 123.0% in the 1st quarter. Capital World Investors now owns 46,331,318 shares of the biopharmaceutical company’s stock valued at $3,463,732,000 after buying an additional 25,555,467 shares during the last quarter. Geode Capital Management LLC increased its stake in Gilead Sciences by 3.4% in the 1st quarter. Geode Capital Management LLC now owns 19,882,508 shares of the biopharmaceutical company’s stock valued at $1,484,311,000 after buying an additional 658,471 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Gilead Sciences by 2.6% in the 1st quarter. Legal & General Group Plc now owns 8,496,358 shares of the biopharmaceutical company’s stock valued at $634,826,000 after buying an additional 216,005 shares during the last quarter. 78.74% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on GILD. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a research note on Tuesday, June 2nd. Cowen reiterated a “buy” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Monday, April 13th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $85.00 price target on shares of Gilead Sciences in a research note on Tuesday. DZ Bank reiterated a “buy” rating on shares of Gilead Sciences in a research note on Monday, June 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Tuesday, June 30th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $79.63.

In other news, EVP Brett A. Pletcher sold 13,210 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $79.23, for a total transaction of $1,046,628.30. Following the completion of the sale, the executive vice president now owns 27,204 shares of the company’s stock, valued at approximately $2,155,372.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Diane E. Wilfong sold 12,264 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $80.09, for a total transaction of $982,223.76. Following the sale, the chief accounting officer now directly owns 23,685 shares of the company’s stock, valued at approximately $1,896,931.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,079 shares of company stock valued at $2,240,630. 0.13% of the stock is currently owned by insiders.

NASDAQ GILD traded down $2.80 during trading on Friday, reaching $69.53. The company’s stock had a trading volume of 20,558,846 shares, compared to its average volume of 6,482,609. The company has a current ratio of 3.04, a quick ratio of 2.92 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $90.73 billion, a price-to-earnings ratio of -289.70, a price-to-earnings-growth ratio of 2.43 and a beta of 0.70. Gilead Sciences, Inc. has a 12 month low of $60.89 and a 12 month high of $85.97. The firm has a 50 day moving average price of $75.47 and a 200 day moving average price of $73.57.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.46). The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.24 billion. Gilead Sciences had a negative net margin of 1.16% and a positive return on equity of 32.17%. On average, equities analysts forecast that Gilead Sciences, Inc. will post 6.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.91%. Gilead Sciences’s dividend payout ratio (DPR) is presently 44.30%.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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