431,022 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 431,022 shares of the biopharmaceutical company's stock, valued at approximately $39,908,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. IHT Wealth Management LLC grew its holdings in Gilead Sciences by 2.5% during the third quarter. IHT Wealth Management LLC now owns 13,146 shares of the biopharmaceutical company's stock valued at $1,102,000 after purchasing an additional 319 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Gilead Sciences by 149.5% during the 3rd quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company's stock worth $6,843,000 after buying an additional 48,910 shares during the period. Weiss Asset Management LP acquired a new position in Gilead Sciences in the 3rd quarter valued at $1,677,000. Wellington Management Group LLP raised its holdings in Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company's stock worth $2,900,921,000 after acquiring an additional 11,665,593 shares during the period. Finally, Voya Financial Advisors Inc. acquired a new position in Gilead Sciences during the 3rd quarter worth $215,000. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

GILD stock traded down $1.44 during trading on Wednesday, hitting $101.75. 5,822,772 shares of the stock traded hands, compared to its average volume of 7,400,374. The stock has a market cap of $126.70 billion, a price-to-earnings ratio of 275.16, a P/E/G ratio of 0.71 and a beta of 0.32. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The company has a 50 day simple moving average of $107.84 and a 200 day simple moving average of $96.31.

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Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Equities analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.79 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.11%. Gilead Sciences's dividend payout ratio (DPR) is 854.05%.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares of the company's stock, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 302,785 shares of company stock worth $30,503,250 in the last 90 days. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Wells Fargo & Company lifted their price target on Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Piper Sandler increased their price objective on Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley boosted their target price on shares of Gilead Sciences from $123.00 to $130.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $105.12.

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.