Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 15.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,616 shares of the biopharmaceutical company’s stock after acquiring an additional 53,033 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Gilead Sciences were worth $33,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sumitomo Life Insurance Co. boosted its holdings in shares of Gilead Sciences by 0.7% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after purchasing an additional 117 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Gilead Sciences by 3.9% in the third quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company’s stock valued at $272,000 after acquiring an additional 123 shares during the last quarter. Roberts Wealth Advisors LLC boosted its holdings in Gilead Sciences by 1.9% in the third quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company’s stock valued at $599,000 after acquiring an additional 130 shares during the last quarter. Wagner Wealth Management LLC grew its position in Gilead Sciences by 1.7% during the third quarter. Wagner Wealth Management LLC now owns 8,026 shares of the biopharmaceutical company’s stock valued at $673,000 after acquiring an additional 135 shares during the period. Finally, Institute for Wealth Management LLC. increased its stake in Gilead Sciences by 1.9% during the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock worth $518,000 after acquiring an additional 142 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock worth $3,033,340 over the last ninety days. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GILD. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Royal Bank of Canada upped their price target on shares of Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $78.00 to $100.00 in a research report on Monday, October 7th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $86.85.

Gilead Sciences Price Performance

GILD opened at $89.00 on Friday. The company has a market capitalization of $110.88 billion, a P/E ratio of 247.22, a PEG ratio of 2.98 and a beta of 0.18. The company has a 50-day moving average of $82.46 and a 200-day moving average of $73.42. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $89.74.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Equities analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.