Nomura Asset Management Co. Ltd. Sells 97,655 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Nomura Asset Management Co. Ltd. trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 866,970 shares of the biopharmaceutical company’s stock after selling 97,655 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.07% of Gilead Sciences worth $72,687,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GILD. State Street Corp increased its holdings in Gilead Sciences by 1.4% during the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after buying an additional 841,776 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after acquiring an additional 11,665,593 shares during the period. FMR LLC increased its stake in shares of Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Gilead Sciences by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after purchasing an additional 268,208 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 476,591 shares of company stock valued at $43,747,615. 0.29% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $92.13 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The company has a market cap of $114.82 billion, a PE ratio of 1,023.67, a price-to-earnings-growth ratio of 2.86 and a beta of 0.18. The company has a 50 day moving average of $89.20 and a 200-day moving average of $78.72. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter last year, the business posted $2.29 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Analysts Set New Price Targets

Several research firms have issued reports on GILD. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Mizuho increased their price target on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Wells Fargo & Company lifted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Twelve analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.41.

About Gilead Sciences

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.