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

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,693 shares of the biopharmaceutical company’s stock after purchasing an additional 7,295 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Gilead Sciences were worth $14,751,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. nVerses Capital LLC purchased a new position in shares of Gilead Sciences during the 3rd quarter valued at approximately $25,000. HHM Wealth Advisors LLC lifted its holdings in Gilead Sciences by 118.5% during the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Valued Wealth Advisors LLC increased its stake in shares of Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. YANKCOM Partnership acquired a new position in shares of Gilead Sciences during the 4th quarter worth about $28,000. Finally, Decker Retirement Planning Inc. purchased a new position in Gilead Sciences in the 4th quarter valued at about $29,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $98.04 on Friday. The company has a market cap of $122.18 billion, a P/E ratio of 1,089.33, a P/E/G ratio of 1.37 and a beta of 0.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $100.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The stock has a 50-day moving average of $92.86 and a two-hundred day moving average of $86.41.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 EPS. As a group, analysts anticipate that Gilead Sciences, Inc. will post 4.34 EPS for the current year.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 164,211 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the transaction, the insider now owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 572,824 shares of company stock valued at $53,611,715. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $84.00 price objective on shares of Gilead Sciences in a research note on Monday. Robert W. Baird raised their price objective on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. BMO Capital Markets lifted their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Truist Financial increased their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Finally, Citigroup started coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $125.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.39.

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.