Gilead Sciences, Inc. $GILD Stock Sold by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 791,297 shares of the biopharmaceutical company’s stock after selling 41,335 shares during the quarter. Gilead Sciences accounts for approximately 1.8% of Confluence Investment Management LLC’s investment portfolio, making the stock its 11th biggest holding. Confluence Investment Management LLC’s holdings in Gilead Sciences were worth $117,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GILD. BlackRock Inc. purchased a new stake in shares of Gilead Sciences in the second quarter worth about $15,393,785,000. State Street Corp boosted its position in Gilead Sciences by 2.3% in the 2nd quarter. State Street Corp now owns 61,216,552 shares of the biopharmaceutical company’s stock worth $7,734,099,000 after purchasing an additional 1,357,967 shares in the last quarter. Invesco Ltd. grew its stake in shares of Gilead Sciences by 2.9% during the 4th quarter. Invesco Ltd. now owns 15,584,341 shares of the biopharmaceutical company’s stock worth $1,912,822,000 after purchasing an additional 444,660 shares during the period. Amundi increased its holdings in shares of Gilead Sciences by 10.7% during the 1st quarter. Amundi now owns 10,539,111 shares of the biopharmaceutical company’s stock valued at $1,468,836,000 after purchasing an additional 1,018,976 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Gilead Sciences in the 2nd quarter valued at $1,316,606,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GILD shares. Royal Bank Of Canada lifted their price target on Gilead Sciences from $120.00 to $123.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Leerink Partners lowered shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. Barclays lowered their price objective on Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 price objective on shares of Gilead Sciences in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Twenty-three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $158.78.

Gilead Sciences Price Performance

GILD traded down $1.23 during trading on Thursday, reaching $147.82. The company’s stock had a trading volume of 1,191,169 shares, compared to its average volume of 6,867,236. The company has a market cap of $183.29 billion, a price-to-earnings ratio of -55.29 and a beta of 0.33. The firm has a fifty day simple moving average of $142.99 and a two-hundred day simple moving average of $136.47. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year high of $157.29. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The firm had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter last year, the firm earned $2.01 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts anticipate that Gilead Sciences, Inc. will post -0.48 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a $0.82 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.2%. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $145.02, for a total value of $725,100.00. Following the transaction, the director directly owned 10,066 shares in the company, valued at $1,459,771.32. The trade was a 33.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $145.29, for a total transaction of $435,870.00. Following the completion of the sale, the chief financial officer directly owned 164,096 shares of the company’s stock, valued at approximately $23,841,507.84. This trade represents a 1.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 90,000 shares of company stock worth $12,722,040. Corporate insiders own 0.30% of the company’s stock.

Gilead Sciences Profile

Gilead Sciences, Inc (NASDAQ: GILD) is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. Its research and commercial activities focus primarily on virology, including HIV, hepatitis B and hepatitis C, as well as oncology, inflammation and other areas of significant unmet medical need.

Gilead’s portfolio includes HIV treatments such as Biktarvy, Descovy, Genvoya and Sunlenca; hepatitis therapies including Epclusa, Harvoni and Vemlidy; and Veklury (remdesivir), an antiviral used to treat COVID-19 in certain patients.