Louisiana State Employees Retirement System Decreases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Louisiana State Employees Retirement System lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 60,900 shares of the biopharmaceutical company’s stock after selling 2,900 shares during the period. Louisiana State Employees Retirement System’s holdings in Gilead Sciences were worth $3,860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of GILD. Cooper Financial Group raised its position in Gilead Sciences by 4.3% during the 2nd quarter. Cooper Financial Group now owns 3,604 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 149 shares during the last quarter. LeJeune Puetz Investment Counsel LLC boosted its stake in shares of Gilead Sciences by 0.6% during the 3rd quarter. LeJeune Puetz Investment Counsel LLC now owns 26,385 shares of the biopharmaceutical company’s stock worth $1,672,000 after purchasing an additional 155 shares during the last quarter. Alpha Cubed Investments LLC boosted its stake in shares of Gilead Sciences by 0.6% during the 2nd quarter. Alpha Cubed Investments LLC now owns 25,592 shares of the biopharmaceutical company’s stock worth $1,729,000 after purchasing an additional 156 shares during the last quarter. Blume Capital Management Inc. boosted its stake in shares of Gilead Sciences by 4.8% during the 2nd quarter. Blume Capital Management Inc. now owns 3,615 shares of the biopharmaceutical company’s stock worth $244,000 after purchasing an additional 165 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in shares of Gilead Sciences by 0.3% during the 2nd quarter. Perigon Wealth Management LLC now owns 51,335 shares of the biopharmaceutical company’s stock worth $3,468,000 after purchasing an additional 165 shares during the last quarter. 79.67% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the stock. Raymond James set a $85.00 price target on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Friday, August 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target (down from $88.00) on shares of Gilead Sciences in a research note on Friday. Royal Bank of Canada raised shares of Gilead Sciences from an “outperform” rating to a “top pick” rating and set a $91.00 target price on the stock in a research report on Monday, July 29th. Jefferies Financial Group set a $95.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Mizuho set a $81.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Gilead Sciences presently has a consensus rating of “Buy” and an average target price of $81.23.

In related news, Director Olsen Per Wold sold 4,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $63.91, for a total value of $313,670.28. Following the transaction, the director now owns 102,762 shares in the company, valued at $6,567,519.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brett A. Pletcher sold 608 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $64.35, for a total transaction of $39,124.80. Following the completion of the transaction, the executive vice president now owns 27,198 shares in the company, valued at approximately $1,750,191.30. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

NASDAQ GILD opened at $66.00 on Friday. Gilead Sciences, Inc. has a one year low of $60.32 and a one year high of $72.90. The company’s 50 day moving average price is $64.60 and its 200 day moving average price is $65.34. The company has a debt-to-equity ratio of 1.13, a quick ratio of 3.67 and a current ratio of 3.76. The firm has a market capitalization of $84.32 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 3.02 and a beta of 1.10.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, October 24th. The biopharmaceutical company reported $1.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.01. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the firm posted $1.84 earnings per share. Gilead Sciences’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts forecast that Gilead Sciences, Inc. will post 6.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.82%. Gilead Sciences’s payout ratio is 40.98%.

Gilead Sciences 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.

Further Reading: Options Trading

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

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