Gilead Sciences, Inc. (NASDAQ:GILD) Shares Bought by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 15.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,660 shares of the biopharmaceutical company’s stock after buying an additional 770 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Gilead Sciences were worth $475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. increased its stake in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the period. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences during the third quarter worth approximately $25,000. Valued Wealth Advisors LLC raised its position in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares in the last quarter. Cedar Wealth Management LLC raised its position in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the second quarter worth $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GILD. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Oppenheimer upped their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Truist Financial upped their target price on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Cantor Fitzgerald upped their target price on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $90.19 on Monday. The stock’s 50-day moving average is $87.43 and its 200-day moving average is $76.95. The company has a market cap of $112.40 billion, a price-to-earnings ratio of 1,002.11, a price-to-earnings-growth ratio of 2.78 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same period last year, the business posted $2.29 EPS. The company’s revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that Gilead Sciences, Inc. will post 4.38 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.42%. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Activity at Gilead Sciences

In other news, 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 value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock worth $4,968,674 in the last 90 days. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences 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.