Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Sumitomo Mitsui Trust Group Inc. grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,034,060 shares of the biopharmaceutical company's stock after purchasing an additional 10,076 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Gilead Sciences worth $280,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. nVerses Capital LLC acquired a new stake in Gilead Sciences in the 3rd quarter worth about $25,000. HHM Wealth Advisors LLC lifted its position in shares of Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. Valued Wealth Advisors LLC boosted its stake in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 161 shares during the last quarter. YANKCOM Partnership purchased a new stake in shares of Gilead Sciences during the fourth quarter worth approximately $28,000. Finally, Decker Retirement Planning Inc. acquired a new position in Gilead Sciences in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Activity

In related news, insider Merdad Parsey sold 164,211 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the transaction, the insider now directly owns 80,801 shares of the company's stock, valued at $7,427,227.92. The trade was a 67.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the sale, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. This trade represents a 43.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 572,824 shares of company stock valued at $53,611,715. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Trading Down 2.0 %

Shares of NASDAQ GILD traded down $2.00 during trading on Friday, reaching $96.04. The stock had a trading volume of 7,182,199 shares, compared to its average volume of 6,866,207. 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 company has a market cap of $119.69 billion, a P/E ratio of 1,067.11, a PEG ratio of 1.25 and a beta of 0.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $100.51. The business's 50-day moving average price is $93.04 and its 200-day moving average price is $86.76.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences's revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS. On average, equities research analysts predict that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GILD shares. Piper Sandler upped their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They issued an "outperform" rating and a $105.00 target price on the stock. Cantor Fitzgerald restated a "neutral" rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Wednesday, December 11th. Finally, Morgan Stanley upgraded Gilead Sciences from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $87.00 to $113.00 in a research report on Friday, January 10th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.39.

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.