Sompo Asset Management Co. Ltd. Purchases 770 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Sompo Asset Management Co. Ltd. raised its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 15.7% during the third quarter, according to its most recent 13F filing with the 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 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Gilead Sciences by 198.3% in the 2nd 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 acquired a new position in shares of Gilead Sciences in the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC lifted its stake in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Cedar Wealth Management LLC lifted its stake in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences during the 2nd quarter worth $33,000. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GILD has been the topic of several research analyst reports. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Piper Sandler lifted their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. BMO Capital Markets lifted their price target on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price target on Gilead Sciences from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Monday, November 18th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.41.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,947 shares of company stock worth $4,968,674. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 0.5 %

Gilead Sciences stock opened at $90.19 on Monday. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The stock has a market capitalization of $112.40 billion, a P/E ratio of 1,002.11, a PEG ratio of 2.78 and a beta of 0.17. The stock has a 50-day simple moving average of $87.43 and a 200 day simple moving average of $76.95.

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

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.42%. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

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.