Sumitomo Mitsui Trust Holdings Inc. Buys 10,218 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,484,702 shares of the biopharmaceutical company’s stock after purchasing an additional 10,218 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of Gilead Sciences worth $255,254,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Tompkins Financial Corp lifted its position in Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of Gilead Sciences during the fourth quarter worth $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at $29,000. Sachetta LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter worth $30,000. Finally, Rakuten Securities Inc. purchased a new position in Gilead Sciences during the 4th quarter worth $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $66.59 on Thursday. The stock has a market capitalization of $82.96 billion, a PE ratio of 184.97, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The stock’s 50-day moving average price is $66.04 and its 200-day moving average price is $72.33.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same period in the prior year, the company posted $1.37 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a $0.77 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.63%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GILD shares. Morgan Stanley dropped their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. UBS Group cut their price target on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Robert W. Baird reiterated a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Finally, StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 27th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.47.

About Gilead Sciences

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.