Resona Asset Management Co. Ltd. Purchases New Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Resona Asset Management Co. Ltd. acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the 4th quarter, HoldingsChannel reports. The fund acquired 431,022 shares of the biopharmaceutical company’s stock, valued at approximately $39,908,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in shares of Gilead Sciences by 149.5% in the third quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock valued at $6,843,000 after buying an additional 48,910 shares during the period. McAdam LLC increased its holdings in Gilead Sciences by 16.7% in the 4th quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock worth $2,344,000 after acquiring an additional 3,627 shares during the last quarter. Capital Investment Advisors LLC raised its stake in Gilead Sciences by 2.6% in the 4th quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock valued at $35,793,000 after acquiring an additional 9,791 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Gilead Sciences by 3.9% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 142,167 shares of the biopharmaceutical company’s stock valued at $13,132,000 after purchasing an additional 5,382 shares during the last quarter. Finally, Global Financial Private Client LLC boosted its position in Gilead Sciences by 1,222.0% during the fourth quarter. Global Financial Private Client LLC now owns 6,068 shares of the biopharmaceutical company’s stock worth $561,000 after purchasing an additional 5,609 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GILD has been the topic of a number of analyst reports. Bank of America boosted their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Piper Sandler boosted their price objective on Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. DZ Bank upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research report on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $105.12.

Gilead Sciences Trading Down 4.6 %

Shares of NASDAQ:GILD opened at $107.25 on Friday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96. The firm has a market capitalization of $133.54 billion, a P/E ratio of 289.86, a P/E/G ratio of 0.71 and a beta of 0.32. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The business’s 50-day moving average is $107.30 and its 200 day moving average is $95.80.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. On average, research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.95%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date was Friday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares in the company, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 302,785 shares of company stock worth $30,503,250. 0.16% of the stock is owned by corporate insiders.

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.