Sumitomo Life Insurance Co. Raises Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Sumitomo Life Insurance Co. boosted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,822 shares of the biopharmaceutical company’s stock after buying an additional 117 shares during the period. Sumitomo Life Insurance Co.’s holdings in Gilead Sciences were worth $1,494,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Swedbank AB purchased a new position in Gilead Sciences in the 1st quarter worth approximately $134,489,000. Capital Research Global Investors boosted its holdings in shares of Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after purchasing an additional 1,589,240 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Gilead Sciences by 24.7% in the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock valued at $541,310,000 after purchasing an additional 1,564,792 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Gilead Sciences in the second quarter valued at approximately $102,298,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Up 1.1 %

Shares of GILD stock opened at $86.75 on Thursday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a 50 day moving average price of $80.56 and a 200 day moving average price of $72.61. The stock has a market capitalization of $108.08 billion, a P/E ratio of 240.97, a price-to-earnings-growth ratio of 2.98 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Equities research analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.55%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock valued at $3,033,340 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent research reports. Barclays boosted their price objective on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research report on Monday, July 8th. Wells Fargo & Company upgraded shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $78.00 to $100.00 in a report on Monday, October 7th. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Thursday, June 20th. Finally, Royal Bank of Canada lifted their price target on shares of Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research report on Friday, October 4th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.83.

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.