Sumitomo Life Insurance Co. Has $1.60 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Sumitomo Life Insurance Co. decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & 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 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Algert Global LLC bought a new position in Gilead Sciences during the 2nd quarter valued at about $254,000. Creative Planning increased its holdings in shares of Gilead Sciences by 8.4% during the second quarter. Creative Planning now owns 188,594 shares of the biopharmaceutical company’s stock worth $12,939,000 after buying an additional 14,544 shares in the last quarter. Quarry LP bought a new position in shares of Gilead Sciences in the second quarter valued at approximately $43,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Gilead Sciences by 25.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 35,674 shares of the biopharmaceutical company’s stock worth $2,448,000 after acquiring an additional 7,155 shares in the last quarter. Finally, SPC Financial Inc. grew its position in Gilead Sciences by 18.2% during the 2nd quarter. SPC Financial Inc. now owns 4,980 shares of the biopharmaceutical company’s stock worth $342,000 after acquiring an additional 768 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 1.9 %

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

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company posted $2.29 EPS. As a group, equities analysts predict that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup assumed coverage on Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 price objective on the stock. Piper Sandler increased their price objective 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. UBS Group raised their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Finally, Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.39.

Insider Activity at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were 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 of the company’s stock, valued at $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of the firm’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 directly owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their position. 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. 0.16% of the stock is owned by corporate insiders.

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.