Meiji Yasuda Asset Management Co Ltd. Invests $4.22 Million in Gilead Sciences, Inc. $GILD

Meiji Yasuda Asset Management Co Ltd. purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 33,417 shares of the biopharmaceutical company’s stock, valued at approximately $4,222,000.

Several other institutional investors also recently added to or reduced their stakes in GILD. Brighton Jones LLC raised its position in Gilead Sciences by 20.6% in the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock worth $1,326,000 after acquiring an additional 2,450 shares during the period. Bison Wealth LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $215,000. Sivia Capital Partners LLC raised its holdings in shares of Gilead Sciences by 16.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,182 shares of the biopharmaceutical company’s stock worth $464,000 after purchasing an additional 602 shares during the period. Ieq Capital LLC lifted its stake in Gilead Sciences by 12.0% in the second quarter. Ieq Capital LLC now owns 118,695 shares of the biopharmaceutical company’s stock valued at $13,160,000 after purchasing an additional 12,705 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in Gilead Sciences by 18.6% in the second quarter. Diversify Advisory Services LLC now owns 4,296 shares of the biopharmaceutical company’s stock valued at $516,000 after purchasing an additional 674 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of recent research reports. Barclays decreased their target price on Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Royal Bank Of Canada increased their price target on Gilead Sciences from $120.00 to $123.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Truist Financial decreased their price objective on Gilead Sciences from $157.00 to $156.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Leerink Partners cut Gilead Sciences from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. Finally, Maxim Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Wednesday, May 20th. Twenty-four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.04.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $146.12 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market cap of $181.18 billion, a P/E ratio of -54.73 and a beta of 0.32. Gilead Sciences, Inc. has a 52 week low of $108.46 and a 52 week high of $157.29. The business has a 50-day simple moving average of $131.97 and a two-hundred day simple moving average of $136.55.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The firm had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts anticipate that Gilead Sciences, Inc. will post -0.51 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.82 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.2%. Gilead Sciences’s dividend payout ratio is currently -122.85%.

Insider Activity

In other news, Director Jeffrey Bluestone sold 5,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $145.02, for a total transaction of $725,100.00. Following the completion of the transaction, the director directly owned 10,066 shares in the company, valued at $1,459,771.32. The trade was a 33.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the completion of the transaction, the chief executive officer directly owned 592,133 shares in the company, valued at approximately $77,160,851.23. The trade was a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,000 shares of company stock valued at $11,562,960 in the last quarter. 0.30% of the stock is currently owned by company insiders.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.