Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Gilead Sciences by 12.3% in the first quarter, now owning 2,309,885 shares worth approximately $258.82 million.
• Significant institutional investment in Gilead has been observed, with firms like Vanguard Group Inc. and Northern Trust Corp. increasing their stakes in the company, leading to 83.67% of the stock being held by institutional investors.
• Analysts have varying new price targets for Gilead shares, with Oppenheimer lowering theirs to $125.00 while Morgan Stanley increased theirs to $135.00, indicating mixed sentiment in the market regarding the stock's future performance.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 12.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,309,885 shares of the biopharmaceutical company's stock after acquiring an additional 253,695 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of Gilead Sciences worth $258,823,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Gilead Sciences by 13,891.1% during the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock valued at $285,761,000 after buying an additional 2,532,070 shares during the last quarter. Northern Trust Corp raised its position in Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after purchasing an additional 2,458,954 shares during the period. Los Angeles Capital Management LLC raised its position in Gilead Sciences by 422.6% during the first quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock valued at $282,706,000 after purchasing an additional 2,040,261 shares during the period. Royal Bank of Canada raised its position in Gilead Sciences by 30.1% during the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after purchasing an additional 2,005,863 shares during the period. Finally, Vanguard Group Inc. raised its position in Gilead Sciences by 1.7% during the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock valued at $13,162,606,000 after purchasing an additional 1,942,433 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

GILD traded up $9.13 on Friday, reaching $119.41. 13,112,190 shares of the stock were exchanged, compared to its average volume of 5,807,634. The company's 50-day moving average price is $110.93 and its 200 day moving average price is $107.43. Gilead Sciences, Inc. has a fifty-two week low of $72.43 and a fifty-two week high of $121.38. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The firm has a market capitalization of $148.54 billion, a PE ratio of 23.79, a PEG ratio of 0.70 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. Gilead Sciences had a return on equity of 51.45% and a net margin of 21.86%. The company's revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $2.01 EPS. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, September 15th. Gilead Sciences's payout ratio is currently 66.53%.

Insiders Place Their Bets

In related news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $277,575.00. Following the sale, the chief financial officer directly owned 162,610 shares in the company, valued at approximately $18,054,588.30. The trade was a 1.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $110.45, for a total value of $1,104,500.00. Following the completion of the sale, the chief executive officer owned 615,725 shares in the company, valued at approximately $68,006,826.25. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $8,984,175 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GILD has been the topic of several recent analyst reports. Cantor Fitzgerald assumed coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target on the stock. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the company from $108.00 to $127.00 in a research note on Friday. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a research note on Friday, July 25th. UBS Group increased their target price on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Morgan Stanley increased their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $114.82.

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.