Sompo Japan Nipponkoa Asset Management CO. LTD. Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Sompo Japan Nipponkoa Asset Management CO. LTD. trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 12.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,520 shares of the biopharmaceutical company’s stock after selling 4,970 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Gilead Sciences were worth $2,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GILD. Norges Bank purchased a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $859,602,000. Capital Research Global Investors raised its holdings in shares of Gilead Sciences by 10.9% during the fourth quarter. Capital Research Global Investors now owns 85,132,885 shares of the biopharmaceutical company’s stock valued at $5,531,935,000 after purchasing an additional 8,343,863 shares during the last quarter. Valueworks LLC raised its holdings in shares of Gilead Sciences by 7,777.5% during the fourth quarter. Valueworks LLC now owns 4,919,000 shares of the biopharmaceutical company’s stock valued at $6,146,000 after purchasing an additional 4,856,556 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Gilead Sciences by 59.2% during the fourth quarter. AQR Capital Management LLC now owns 7,208,716 shares of the biopharmaceutical company’s stock valued at $464,529,000 after purchasing an additional 2,682,046 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Gilead Sciences by 15.1% during the fourth quarter. Renaissance Technologies LLC now owns 16,962,944 shares of the biopharmaceutical company’s stock valued at $1,102,252,000 after purchasing an additional 2,228,686 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

GILD has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $88.00 target price on shares of Gilead Sciences in a report on Tuesday, May 5th. Robert W. Baird reaffirmed a “hold” rating and set a $75.00 target price on shares of Gilead Sciences in a report on Thursday. Oppenheimer reaffirmed a “buy” rating on shares of Gilead Sciences in a report on Monday, May 18th. Credit Suisse Group reaffirmed a “sell” rating and set a $60.00 target price on shares of Gilead Sciences in a report on Friday, April 17th. Finally, Wolfe Research started coverage on shares of Gilead Sciences in a report on Tuesday, March 31st. They set a “market perform” rating and a $65.00 target price for the company. Seven analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Gilead Sciences presently has a consensus rating of “Hold” and an average price target of $78.15.

In related news, EVP Brett A. Pletcher sold 10,441 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $70.88, for a total value of $740,058.08. Following the transaction, the executive vice president now owns 25,085 shares of the company’s stock, valued at approximately $1,778,024.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Francis Cogan sold 2,413 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $77.97, for a total transaction of $188,141.61. Following the completion of the transaction, the director now directly owns 57,273 shares in the company, valued at approximately $4,465,575.81. The disclosure for this sale can be found here. In the last three months, insiders sold 60,585 shares of company stock worth $4,671,283. Insiders own 0.13% of the company’s stock.

Shares of GILD traded down $0.16 during midday trading on Friday, hitting $73.34. The stock had a trading volume of 6,157,451 shares, compared to its average volume of 19,139,120. Gilead Sciences, Inc. has a 1 year low of $60.89 and a 1 year high of $85.97. The firm has a market cap of $92.20 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 3.14 and a beta of 0.72. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.04 and a quick ratio of 2.92. The stock’s 50 day moving average is $77.78 and its 200 day moving average is $70.16.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.11. Gilead Sciences had a net margin of 21.84% and a return on equity of 35.44%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the firm posted $1.67 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 6.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, June 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, June 11th. Gilead Sciences’s dividend payout ratio is currently 44.30%.

About Gilead Sciences

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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