Meiji Yasuda Life Insurance Co Increases Stake in Gilead Sciences, Inc. $GILD

Key Points

• Meiji Yasuda Life Insurance Co increased its holdings in Gilead Sciences by 96% in Q1, owning 6,014 shares worth $674,000.
• Several hedge funds have also boosted their investments in Gilead, with 83.67% of the stock owned by institutional investors.
• Gilead recently declared a quarterly dividend of $0.79 per share, representing a 2.7% yield, with payments scheduled for September 29th.

Meiji Yasuda Life Insurance Co raised its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 96.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,014 shares of the biopharmaceutical company's stock after purchasing an additional 2,945 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Gilead Sciences were worth $674,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Gilead Sciences by 5.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after acquiring an additional 14,009 shares during the last quarter. Ariel Investments LLC increased its stake in Gilead Sciences by 7.7% in the first quarter. Ariel Investments LLC now owns 430,424 shares of the biopharmaceutical company's stock worth $48,229,000 after purchasing an additional 30,630 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Gilead Sciences by 14.5% during the first quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after purchasing an additional 109 shares during the last quarter. Mufg Securities Americas Inc. purchased a new stake in shares of Gilead Sciences during the fourth quarter valued at $1,699,000. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of Gilead Sciences during the first quarter valued at $11,688,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Activity

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $113.63, for a total transaction of $1,136,300.00. Following the completion of the sale, the chief executive officer owned 595,725 shares of the company's stock, valued at $67,692,231.75. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $118.53, for a total transaction of $296,325.00. Following the completion of the sale, the chief financial officer owned 160,110 shares of the company's stock, valued at approximately $18,977,838.30. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,000 shares of company stock valued at $9,371,330. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Stock Down 2.8%

NASDAQ:GILD traded down $3.31 during trading hours on Friday, reaching $114.55. The company's stock had a trading volume of 6,466,956 shares, compared to its average volume of 5,830,447. The stock has a 50 day moving average price of $114.04 and a two-hundred day moving average price of $110.09. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The company has a market capitalization of $142.13 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 0.80 and a beta of 0.36. Gilead Sciences, Inc. has a 12 month low of $81.57 and a 12 month high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.05. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The business's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Equities analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio is presently 62.95%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GILD. Dbs Bank raised shares of Gilead Sciences to a "moderate buy" rating in a research note on Friday, September 5th. Daiwa Capital Markets upgraded shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price on the stock in a research note on Tuesday, August 19th. Royal Bank Of Canada lifted their price target on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price target for the company from $108.00 to $127.00 in a report on Friday, August 8th. Finally, UBS Group increased their price objective on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.39.

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.