New York State Common Retirement Fund Has $143.58 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

New York State Common Retirement Fund trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,712,565 shares of the biopharmaceutical company’s stock after selling 245,800 shares during the period. New York State Common Retirement Fund owned about 0.14% of Gilead Sciences worth $143,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of GILD. CarsonAllaria Wealth Management Ltd. increased its position in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the last quarter. nVerses Capital LLC bought a new position in Gilead Sciences in the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC lifted its stake in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the last quarter. Palisade Asset Management LLC bought a new stake in Gilead Sciences during the 1st quarter worth $29,000. Finally, Cedar Wealth Management LLC increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $75.00 price target on shares of Gilead Sciences in a research note on Tuesday. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. BMO Capital Markets lifted their target price on Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price target on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.85.

Gilead Sciences Stock Performance

GILD stock traded up $0.03 during midday trading on Friday, reaching $88.85. 469,973 shares of the company’s stock traded hands, compared to its average volume of 6,994,533. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $89.74. 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 firm has a market capitalization of $110.62 billion, a PE ratio of 108.32, a price-to-earnings-growth ratio of 3.07 and a beta of 0.18. The company has a 50-day moving average price of $83.54 and a two-hundred day moving average price of $73.97.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 3.76 EPS for the current year.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is owned by corporate insiders.

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.