Mitsubishi UFJ Asset Management UK Ltd. Has $2.58 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its stake in Gilead Sciences by 35.3%, acquiring a total of 23,000 shares valued at approximately $2.58 million.
• Several hedge funds have also significantly increased their holdings in Gilead, with Nuveen LLC acquiring a new position worth $620 million and GAMMA Investing LLC increasing holdings by over 13,000%.
• Gilead announced a new quarterly dividend of $0.79 per share, representing an annualized yield of 2.6%, with a dividend payout ratio of 62.95%.

Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 35.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 23,000 shares of the biopharmaceutical company's stock after buying an additional 6,000 shares during the period. Gilead Sciences makes up approximately 1.4% of Mitsubishi UFJ Asset Management UK Ltd.'s holdings, making the stock its 18th biggest holding. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Gilead Sciences were worth $2,577,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GILD. Nuveen LLC acquired a new position in Gilead Sciences during the first quarter worth $620,415,000. GAMMA Investing LLC increased its holdings 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 worth $285,761,000 after buying an additional 2,532,070 shares during the last quarter. Northern Trust Corp increased its holdings 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 worth $1,377,707,000 after buying an additional 2,458,954 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Gilead Sciences by 422.6% in 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 last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Gilead Sciences by 30.1% in 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 last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $113.94, for a total value of $1,139,400.00. Following the transaction, the chief executive officer owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the completion of the transaction, the insider directly owned 121,152 shares in the company, valued at approximately $13,026,263.04. This represents a 18.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,500 shares of company stock valued at $8,734,625. Company insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $120.14 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. The company has a market cap of $149.07 billion, a PE ratio of 23.93, a P/E/G ratio of 0.75 and a beta of 0.33. The business has a 50 day moving average of $111.59 and a 200 day moving average of $108.00. Gilead Sciences, Inc. has a 52 week low of $72.89 and a 52 week high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.05. The company 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 firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 earnings per share. As a group, equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio is presently 62.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GILD shares. UBS Group boosted 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, August 8th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective for the company. Oppenheimer cut their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Needham & Company LLC raised 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 report on Friday, July 25th. Finally, Morgan Stanley upped their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.

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