State of New Jersey Common Pension Fund D Has $31.31 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 35.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 456,337 shares of the biopharmaceutical company’s stock after selling 252,647 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Gilead Sciences were worth $31,309,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. increased its holdings in Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences during the 1st quarter worth about $29,000. Sachetta LLC acquired a new stake in Gilead Sciences in the 4th quarter valued at about $30,000. Finally, Financial Connections Group Inc. bought a new position in Gilead Sciences during the second quarter worth about $34,000. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BMO Capital Markets upped their price objective on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research report on Thursday, June 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a research report on Monday. Finally, Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Twelve equities research 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.06.

Insider Buying and Selling at Gilead Sciences

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

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $83.16 on Friday. The company has a market cap of $103.61 billion, a price-to-earnings ratio of 231.00, a PEG ratio of 2.73 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 $87.86. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a fifty day moving average price of $75.15 and a 200-day moving average price of $70.80.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.40. The business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 dividend on an annualized basis and a yield of 3.70%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Gilead Sciences 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.