Confluence Investment Management LLC Sells 11,734 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Confluence Investment Management LLC reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,190,994 shares of the biopharmaceutical company’s stock after selling 11,734 shares during the quarter. Gilead Sciences makes up about 1.3% of Confluence Investment Management LLC’s portfolio, making the stock its 25th largest position. Confluence Investment Management LLC owned 0.10% of Gilead Sciences worth $99,853,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Portside Wealth Group LLC lifted its position in shares of Gilead Sciences by 11.7% during the 3rd quarter. Portside Wealth Group LLC now owns 17,407 shares of the biopharmaceutical company’s stock valued at $1,459,000 after acquiring an additional 1,827 shares during the period. Keynote Financial Services LLC increased its stake in Gilead Sciences by 1.1% in the third quarter. Keynote Financial Services LLC now owns 12,577 shares of the biopharmaceutical company’s stock valued at $1,054,000 after purchasing an additional 141 shares in the last quarter. General American Investors Co. Inc. boosted its position in shares of Gilead Sciences by 20.9% during the 3rd quarter. General American Investors Co. Inc. now owns 144,900 shares of the biopharmaceutical company’s stock worth $12,148,000 after purchasing an additional 25,000 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Gilead Sciences by 4.3% in the 3rd 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 period. Finally, Walkner Condon Financial Advisors LLC increased its position in Gilead Sciences by 9.2% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 3,396 shares of the biopharmaceutical company’s stock valued at $285,000 after buying an additional 286 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Trading Up 6.8 %

Shares of Gilead Sciences stock opened at $97.90 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.32. The firm has a market cap of $121.88 billion, a PE ratio of 119.39, a PEG ratio of 3.13 and a beta of 0.17. The company has a 50 day simple moving average of $84.58 and a two-hundred day simple moving average of $74.67.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 EPS. Analysts expect that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction dated 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 transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 62,437 shares of company stock valued at $5,374,825. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GILD. Royal Bank of Canada raised their price objective on Gilead Sciences from $75.00 to $81.00 and gave the company a “sector perform” rating in a research note on Thursday. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $90.05.

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.