Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,331 shares of the biopharmaceutical company’s stock after selling 491 shares during the period. Sumitomo Life Insurance Co.’s holdings in Gilead Sciences were worth $1,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GILD. Twelve Points Wealth Management LLC bought a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $611,000. SteelPeak Wealth LLC acquired a new stake in Gilead Sciences in the fourth quarter worth approximately $4,921,000. Mayflower Financial Advisors LLC bought a new position in Gilead Sciences during the 4th quarter valued at $317,000. BSW Wealth Partners increased its position in shares of Gilead Sciences by 5.9% during the 4th quarter. BSW Wealth Partners now owns 6,048 shares of the biopharmaceutical company’s stock valued at $559,000 after purchasing an additional 335 shares during the period. Finally, IRON Financial LLC raised its stake in shares of Gilead Sciences by 2.7% in the 4th quarter. IRON Financial LLC now owns 10,169 shares of the biopharmaceutical company’s stock worth $939,000 after buying an additional 268 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Performance

GILD stock opened at $95.59 on Thursday. The company has a market capitalization of $119.13 billion, a price-to-earnings ratio of 1,062.11, a P/E/G ratio of 1.31 and a beta of 0.18. The firm has a 50 day moving average of $92.00 and a two-hundred day moving average of $85.44. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90.

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 analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the prior year, the company posted $2.29 earnings per share. Gilead Sciences’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at $12,886,126.44. The trade was a 64.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the sale, the insider now owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This trade represents a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 456,234 shares of company stock valued at $42,130,461. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GILD shares. Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 target price on the stock. Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company increased their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Mizuho lifted their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Barclays increased their price objective on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.