Confluence Investment Management LLC Sells 196,882 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Confluence Investment Management LLC decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 979,976 shares of the biopharmaceutical company's stock after selling 196,882 shares during the period. Gilead Sciences makes up 1.6% of Confluence Investment Management LLC's investment portfolio, making the stock its 23rd largest holding. Confluence Investment Management LLC owned 0.08% of Gilead Sciences worth $109,806,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GILD. Redwood Financial Network Corp raised its stake in Gilead Sciences by 4.0% during the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after acquiring an additional 98 shares in the last quarter. Nicolet Advisory Services LLC increased its stake in shares of Gilead Sciences by 2.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock valued at $322,000 after buying an additional 100 shares in the last quarter. CFO4Life Group LLC increased its stake in shares of Gilead Sciences by 2.7% in the fourth quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock valued at $394,000 after buying an additional 112 shares in the last quarter. Howe & Rusling Inc. increased its stake in shares of Gilead Sciences by 2.5% in the fourth quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company's stock valued at $435,000 after buying an additional 115 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC increased its stake in shares of Gilead Sciences by 4.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 2,648 shares of the biopharmaceutical company's stock valued at $245,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Down 0.7%

NASDAQ GILD traded down $0.75 during trading on Monday, hitting $109.33. The stock had a trading volume of 6,016,955 shares, compared to its average volume of 7,708,692. The company has a market capitalization of $136.00 billion, a PE ratio of 294.97, a P/E/G ratio of 0.71 and a beta of 0.26. Gilead Sciences, Inc. has a 12 month low of $62.69 and a 12 month high of $119.96. The company's 50-day moving average price is $105.49 and its two-hundred day moving average price is $100.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.77 billion. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The business's quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business earned ($1.32) EPS. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.89%. Gilead Sciences's dividend payout ratio is presently 66.53%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the transaction, the insider now directly owns 121,152 shares of the company's stock, valued at $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 17,929 shares of Gilead Sciences stock in a transaction on Monday, March 10th. The stock was sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the transaction, the chief financial officer now directly owns 169,061 shares of the company's stock, valued at approximately $19,977,938.37. This trade represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,929 shares of company stock valued at $5,644,780. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GILD has been the subject of a number of research reports. Morgan Stanley raised their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Piper Sandler raised their target price on Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. Oppenheimer lowered their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, DZ Bank raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 target price on the stock in a research note on Thursday, February 13th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $110.55.

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.