Sumitomo Mitsui DS Asset Management Company Ltd Trims Position in Gilead Sciences, Inc. (NASDAQ:GILD)

by · The Markets Daily

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 152,398 shares of the biopharmaceutical company’s stock after selling 11,741 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Gilead Sciences were worth $12,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. RFG Advisory LLC increased its position in shares of Gilead Sciences by 16.9% during the 1st quarter. RFG Advisory LLC now owns 22,514 shares of the biopharmaceutical company’s stock worth $1,649,000 after purchasing an additional 3,249 shares during the last quarter. First Affirmative Financial Network increased its position in shares of Gilead Sciences by 3.5% during the 1st quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock worth $318,000 after purchasing an additional 147 shares during the last quarter. &PARTNERS acquired a new stake in shares of Gilead Sciences during the 1st quarter worth about $309,000. Royal Fund Management LLC increased its position in shares of Gilead Sciences by 51.5% during the 1st quarter. Royal Fund Management LLC now owns 22,440 shares of the biopharmaceutical company’s stock worth $1,644,000 after purchasing an additional 7,624 shares during the last quarter. Finally, High Net Worth Advisory Group LLC increased its position in shares of Gilead Sciences by 6.1% during the 1st quarter. High Net Worth Advisory Group LLC now owns 4,519 shares of the biopharmaceutical company’s stock worth $331,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of recent analyst reports. Barclays raised their price objective on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. Truist Financial lifted their target price on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Monday, July 8th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.37.

Read Our Latest Research Report on Gilead Sciences

Gilead Sciences Trading Down 0.7 %

Gilead Sciences stock opened at $86.72 on Friday. The stock has a market cap of $108.04 billion, a PE ratio of 240.89, a P/E/G ratio of 2.98 and a beta of 0.18. The stock has a 50-day moving average price of $81.06 and a 200 day moving average price of $72.80. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

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

Gilead Sciences Dividend Announcement

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

Insiders Place Their Bets

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

Gilead Sciences Company Profile

(Free Report)

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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