Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in Gilead Sciences, Inc. $GILD

Key Points

• Sumitomo Mitsui DS Asset Management increased its holdings in Gilead Sciences by 2.2% during Q2, owning 171,348 shares valued at approximately $19 million.
• Gilead's stock received multiple upgrades from analysts, with Truist Financial raising its price target from $108 to $127, reflecting growing investor confidence.
• The company reported earnings of $2.01 per share for the last quarter, exceeding analysts' expectations, and has set a FY 2025 guidance between $7.950 and $8.250 EPS.

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,348 shares of the biopharmaceutical company's stock after purchasing an additional 3,730 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Gilead Sciences were worth $18,997,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GILD. Price T Rowe Associates Inc. MD raised its holdings in shares of Gilead Sciences by 314.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company's stock worth $1,647,484,000 after purchasing an additional 11,156,382 shares during the period. Nuveen LLC bought a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $620,415,000. GAMMA Investing LLC raised its holdings in shares of Gilead Sciences by 13,891.1% in the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock worth $285,761,000 after purchasing an additional 2,532,070 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Gilead Sciences by 422.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock worth $282,706,000 after purchasing an additional 2,040,261 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Gilead Sciences by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock worth $13,162,606,000 after purchasing an additional 1,942,433 shares during the period. Institutional investors own 83.67% of the company's stock.

Insider Activity

In related news, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction 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 transaction, the director directly owned 8,920 shares in the company, valued at approximately $978,880.80. The trade was a 35.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $296,325.00. Following the completion of the transaction, the chief financial officer owned 160,110 shares of the company's stock, valued at $18,977,838.30. This trade represents a 1.54% 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 valued at $9,390,030 over the last 90 days. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Daiwa Capital Markets raised shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target on the stock in a report on Tuesday, August 19th. 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 report on Friday, August 8th. Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their target price for the company from $108.00 to $127.00 in a report on Friday, August 8th. Royal Bank Of Canada boosted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Finally, Rothschild & Co Redburn boosted their target price on shares of Gilead Sciences from $136.00 to $143.00 and gave the company a "buy" rating in a report on Friday, September 12th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and an average price target of $117.17.

Gilead Sciences Price Performance

Shares of GILD traded up $0.47 during mid-day trading on Friday, reaching $114.09. 12,580,487 shares of the stock traded hands, compared to its average volume of 5,841,828. The firm has a fifty day moving average price of $114.10 and a 200 day moving average price of $110.06. The company has a market cap of $141.56 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 0.77 and a beta of 0.36. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a 1 year low of $81.83 and a 1 year high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The business's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, September 15th. Gilead Sciences's payout ratio is 62.95%.

Gilead Sciences Company 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.