Confluence Investment Management LLC Cuts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Confluence Investment Management LLC lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,176,858 shares of the biopharmaceutical company’s stock after selling 14,136 shares during the quarter. Gilead Sciences accounts for 1.5% of Confluence Investment Management LLC’s investment portfolio, making the stock its 25th biggest position. Confluence Investment Management LLC’s holdings in Gilead Sciences were worth $108,706,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Gilead Sciences by 4.3% during the third quarter. Principal Financial Group Inc. now owns 1,451,249 shares of the biopharmaceutical company’s stock valued at $121,673,000 after buying an additional 59,181 shares during the last quarter. Exome Asset Management LLC purchased a new stake in Gilead Sciences during the 3rd quarter valued at about $4,192,000. Brass Tax Wealth Management Inc. bought a new position in Gilead Sciences during the 3rd quarter worth approximately $242,000. Garden State Investment Advisory Services LLC purchased a new position in Gilead Sciences in the 3rd quarter worth approximately $221,000. Finally, Franklin Resources Inc. lifted its position in Gilead Sciences by 22.8% in the third quarter. Franklin Resources Inc. now owns 2,241,354 shares of the biopharmaceutical company’s stock valued at $190,611,000 after purchasing an additional 416,379 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on GILD shares. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. Robert W. Baird boosted their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. BMO Capital Markets boosted their price target on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Truist Financial increased their price objective on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.43.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the sale, the director now directly owns 8,920 shares in the company, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 453,734 shares of company stock worth $41,902,086. Insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Down 0.3 %

Shares of NASDAQ GILD traded down $0.26 during trading on Thursday, reaching $92.11. The company had a trading volume of 561,844 shares, compared to its average volume of 7,043,598. The business’s 50-day moving average is $91.70 and its 200 day moving average is $82.15. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a market cap of $114.79 billion, a PE ratio of 1,023.44, a P/E/G ratio of 2.38 and a beta of 0.18. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a $0.77 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.34%. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

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.