Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,406 shares of the biopharmaceutical company’s stock after selling 1,038 shares during the period. Sumitomo Life Insurance Co.’s holdings in Gilead Sciences were worth $1,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Louisiana State Employees Retirement System acquired a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $14,120,000. Sprucegrove Investment Management Ltd. boosted its stake in shares of Gilead Sciences by 2.1% in the fourth quarter. Sprucegrove Investment Management Ltd. now owns 87,966 shares of the biopharmaceutical company’s stock valued at $7,126,000 after buying an additional 1,800 shares in the last quarter. Simplicity Solutions LLC boosted its stake in shares of Gilead Sciences by 9.1% in the fourth quarter. Simplicity Solutions LLC now owns 21,841 shares of the biopharmaceutical company’s stock valued at $1,769,000 after buying an additional 1,829 shares in the last quarter. Graypoint LLC raised its holdings in shares of Gilead Sciences by 7.4% in the fourth quarter. Graypoint LLC now owns 10,818 shares of the biopharmaceutical company’s stock worth $876,000 after acquiring an additional 745 shares during the last quarter. Finally, AlphaQ Advisors LLC raised its holdings in shares of Gilead Sciences by 2.5% in the fourth quarter. AlphaQ Advisors LLC now owns 6,787 shares of the biopharmaceutical company’s stock worth $550,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total value of $428,900.00. Following the completion of the sale, the chief financial officer now owns 101,534 shares of the company’s stock, valued at $8,709,586.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total value of $428,900.00. Following the transaction, the chief financial officer now directly owns 101,534 shares of the company’s stock, valued at approximately $8,709,586.52. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $721,180 over the last quarter. Insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Performance

GILD opened at $68.07 on Monday. The firm has a market cap of $84.75 billion, a PE ratio of 15.13, a P/E/G ratio of 0.86 and a beta of 0.19. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. The business has a fifty day simple moving average of $72.79 and a 200-day simple moving average of $76.83. Gilead Sciences, Inc. has a fifty-two week low of $67.62 and a fifty-two week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The business had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 EPS. As a group, equities analysts predict that Gilead Sciences, Inc. will post 7.08 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.77 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.52%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s payout ratio is currently 68.44%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GILD. Mizuho dropped their target price on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Oppenheimer decreased their target price on Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th. Barclays decreased their target price on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Finally, Wells Fargo & Company decreased their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.36.

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.