Mitsubishi UFJ Asset Management Co. Ltd. Makes New $398.90 Million Investment in Gilead Sciences, Inc. $GILD

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,157,393 shares of the biopharmaceutical company’s stock, valued at approximately $398,905,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of Gilead Sciences at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GILD. Brighton Jones LLC lifted its stake in shares of Gilead Sciences by 20.6% during the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock worth $1,326,000 after purchasing an additional 2,450 shares during the period. Bison Wealth LLC purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at $215,000. Sivia Capital Partners LLC grew its position in shares of Gilead Sciences by 16.8% in the second quarter. Sivia Capital Partners LLC now owns 4,182 shares of the biopharmaceutical company’s stock valued at $464,000 after purchasing an additional 602 shares during the period. Ieq Capital LLC increased its stake in Gilead Sciences by 12.0% in the second quarter. Ieq Capital LLC now owns 118,695 shares of the biopharmaceutical company’s stock valued at $13,160,000 after purchasing an additional 12,705 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its stake in Gilead Sciences by 18.6% in the second quarter. Diversify Advisory Services LLC now owns 4,296 shares of the biopharmaceutical company’s stock valued at $516,000 after purchasing an additional 674 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $138.92 on Tuesday. The firm has a market capitalization of $172.25 billion, a P/E ratio of -52.03 and a beta of 0.32. Gilead Sciences, Inc. has a 1-year low of $108.46 and a 1-year high of $157.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The business’s 50-day simple moving average is $130.33 and its 200-day simple moving average is $136.43.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. The business had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.During the same quarter in the previous year, the business earned $2.01 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts predict that Gilead Sciences, Inc. will post -0.53 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 2.4%. Gilead Sciences’s payout ratio is presently -122.85%.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of research analyst reports. Maxim Group raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research note on Wednesday, May 20th. HSBC raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and upped their price objective for the company from $133.00 to $155.00 in a research note on Monday, July 6th. Daiwa Securities Group cut their price objective on shares of Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, May 19th. Rothschild & Co Redburn decreased their target price on shares of Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $158.04.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 3,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $125.40, for a total transaction of $376,200.00. Following the completion of the sale, the chief financial officer directly owned 171,646 shares of the company’s stock, valued at approximately $21,524,408.40. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of Gilead Sciences stock in a transaction on Monday, June 15th. The stock was sold at an average price of $123.92, for a total transaction of $371,760.00. Following the sale, the insider directly owned 124,234 shares in the company, valued at $15,395,077.28. This trade represents a 2.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 51,000 shares of company stock valued at $6,568,860. Company insiders own 0.30% of the company’s stock.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.