Resona Asset Management Co. Ltd. Has $49.59 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Gilead Sciences, Inc. by 2.7%, owning 442,718 shares worth approximately $49.59 million as of the first quarter.
• Analysts have varied price targets for Gilead Sciences, with Cantor Fitzgerald setting a target of $125.00, while Morgan Stanley increased their target to $135.00, indicating optimism about the stock's performance.
• The company recently announced a quarterly dividend of $0.79, translating to an annualized yield of 2.6%, with a payout ratio of 62.95%.

Resona Asset Management Co. Ltd. raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 442,718 shares of the biopharmaceutical company's stock after buying an additional 11,696 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Gilead Sciences were worth $49,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Redwood Financial Network Corp grew its position in shares of Gilead Sciences by 4.0% in the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after purchasing an additional 98 shares during the last quarter. Argentarii LLC grew its position in Gilead Sciences by 3.0% during the first quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock worth $380,000 after buying an additional 99 shares in the last quarter. Peak Financial Advisors LLC grew its position in Gilead Sciences by 1.7% during the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after buying an additional 100 shares in the last quarter. Perkins Coie Trust Co grew its position in Gilead Sciences by 2.6% during the first quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock worth $435,000 after buying an additional 100 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. grew its position in Gilead Sciences by 33.3% during the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded down $1.12 during trading on Thursday, reaching $119.02. The stock had a trading volume of 5,461,007 shares, compared to its average volume of 8,364,447. Gilead Sciences, Inc. has a 52 week low of $72.89 and a 52 week high of $121.83. The business's 50-day moving average price is $111.59 and its 200 day moving average price is $108.00. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The stock has a market capitalization of $147.68 billion, a PE ratio of 23.71, a P/E/G ratio of 0.75 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. Gilead Sciences's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.01 earnings per share. As a group, equities analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. Gilead Sciences's dividend payout ratio (DPR) is currently 62.95%.

Insider Activity at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the sale, the director owned 8,920 shares of the company's stock, valued at $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $277,575.00. Following the completion of the sale, the chief financial officer directly owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This represents a 1.51% 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 worth $8,734,625. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Oppenheimer decreased their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the stock from $108.00 to $127.00 in a research report on Friday, August 8th. Morgan Stanley lifted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Cantor Fitzgerald assumed coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Finally, UBS Group lifted their target price on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.