Mirae Asset Global Investments Co. Ltd. Raises Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Mirae Asset Global Investments Co. Ltd. lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 18.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 514,638 shares of the biopharmaceutical company's stock after purchasing an additional 80,473 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Gilead Sciences were worth $57,531,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GILD. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Gilead Sciences by 158.8% in the 4th 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. Whipplewood Advisors LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $35,000. Synergy Investment Management LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $40,000. Lee Danner & Bass Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $41,000. Finally, Investment Research & Advisory Group Inc. increased its holdings in shares of Gilead Sciences by 33.3% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective on the stock. Oppenheimer dropped their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.55.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the transaction, the chief executive officer now directly owns 620,268 shares in the company, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $110.17, for a total transaction of $275,425.00. Following the completion of the transaction, the chief financial officer now owns 165,110 shares in the company, valued at approximately $18,190,168.70. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,500 shares of company stock worth $5,236,245. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded up $3.05 on Friday, hitting $110.67. The company's stock had a trading volume of 19,541,254 shares, compared to its average volume of 7,682,147. Gilead Sciences, Inc. has a 52-week low of $66.01 and a 52-week high of $119.96. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The firm has a fifty day moving average price of $106.39 and a 200-day moving average price of $103.35. The company has a market capitalization of $137.67 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29.

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

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.79 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.86%. Gilead Sciences's dividend payout ratio (DPR) is 66.53%.

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.