Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,618 shares of the biopharmaceutical company's stock after acquiring an additional 7,925 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Gilead Sciences were worth $18,782,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC acquired a new stake in Gilead Sciences during the 1st quarter worth about $25,000. Goodman Advisory Group LLC purchased a new position in shares of Gilead Sciences in the first quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Gilead Sciences by 158.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 216 shares during the period. Synergy Investment Management LLC purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $40,000. Finally, Lee Danner & Bass Inc. acquired a new position in Gilead Sciences in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Morgan Stanley lifted their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Bank of America upped their target price on Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Oppenheimer reduced their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.55.

Gilead Sciences Price Performance

NASDAQ GILD traded up $0.86 on Tuesday, hitting $111.73. The stock had a trading volume of 7,675,787 shares, compared to its average volume of 7,677,825. The firm has a 50-day moving average of $106.53 and a 200-day moving average of $103.56. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. Gilead Sciences, Inc. has a 52-week low of $66.01 and a 52-week high of $119.96. The company has a market capitalization of $138.98 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.32) EPS. Equities analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.83%. Gilead Sciences's dividend payout ratio (DPR) is currently 66.53%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 3,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $110.17, for a total transaction of $330,510.00. Following the completion of the transaction, the insider owned 120,168 shares of the company's stock, valued at approximately $13,238,908.56. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $110.17, for a total transaction of $275,425.00. Following the sale, the chief financial officer directly owned 165,110 shares in the company, valued at $18,190,168.70. The trade was a 1.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,500 shares of company stock worth $5,236,245. 0.27% of the stock is currently owned by insiders.

About Gilead Sciences

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.