Sumitomo Life Insurance Co. Has $1.22 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Sumitomo Life Insurance Co. decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,705 shares of the biopharmaceutical company’s stock after selling 1,839 shares during the period. Sumitomo Life Insurance Co.’s holdings in Gilead Sciences were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $1,649,000. Tennessee Valley Asset Management Partners acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $49,000. Flputnam Investment Management Co. boosted its position in Gilead Sciences by 15.8% in the fourth quarter. Flputnam Investment Management Co. now owns 6,070 shares of the biopharmaceutical company’s stock valued at $492,000 after buying an additional 826 shares in the last quarter. Tyche Wealth Partners LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $420,000. Finally, TRUE Private Wealth Advisors acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Stock Down 0.8 %

Gilead Sciences stock traded down $0.56 during midday trading on Friday, hitting $73.78. 5,148,098 shares of the stock were exchanged, compared to its average volume of 7,321,358. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The stock has a market capitalization of $91.92 billion, a price-to-earnings ratio of 204.94, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. The business’s 50-day moving average price is $70.80 and its 200-day moving average price is $70.26. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.17%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. TD Cowen dropped their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Truist Financial raised their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday. BMO Capital Markets raised their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target for the company in a research note on Wednesday, April 24th. Finally, StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Twelve investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.94.

Gilead Sciences 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.