Confluence Investment Management LLC Trims Holdings in Gilead Sciences, Inc. $GILD

Confluence Investment Management LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 832,632 shares of the biopharmaceutical company's stock after selling 28,391 shares during the period. Gilead Sciences accounts for about 1.6% of Confluence Investment Management LLC's investment portfolio, making the stock its 22nd largest position. Confluence Investment Management LLC owned about 0.07% of Gilead Sciences worth $105,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GILD. Norges Bank purchased a new stake in Gilead Sciences in the 4th quarter valued at about $2,617,152,000. Boston Partners purchased a new position in Gilead Sciences in the 4th quarter worth approximately $517,808,000. Massachusetts Financial Services Co. MA grew its holdings in Gilead Sciences by 3,763.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,223,304 shares of the biopharmaceutical company's stock valued at $518,368,000 after purchasing an additional 4,113,999 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Gilead Sciences by 15.2% during the fourth quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company's stock valued at $2,837,948,000 after acquiring an additional 3,046,688 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Gilead Sciences by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company's stock valued at $14,863,487,000 after purchasing an additional 2,113,692 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 15,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $131.46, for a total value of $1,971,900.00. Following the completion of the sale, the chief executive officer owned 617,567 shares in the company, valued at $81,185,357.82. This represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business'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 transaction, the chief financial officer owned 171,646 shares in the company, valued at approximately $21,524,408.40. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 67,000 shares of company stock worth $8,687,140. 0.30% of the stock is currently owned by company insiders.

Gilead Sciences Price Performance

GILD opened at $131.15 on Tuesday. The firm has a market capitalization of $162.83 billion, a P/E ratio of 17.87 and a beta of 0.32. The stock has a fifty day moving average of $129.55 and a 200-day moving average of $136.03. The company has a quick ratio of 1.77, a current ratio of 1.97 and a debt-to-equity ratio of 0.89. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.12. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.91 billion. Gilead Sciences had a return on equity of 48.19% and a net margin of 30.99%.The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.81 EPS. Gilead Sciences has set its FY 2026 guidance at -1.050--0.650 EPS. Equities analysts forecast that Gilead Sciences, Inc. will post -0.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Gilead Sciences from $125.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, April 17th. Barclays lowered their price target on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 29th. Royal Bank Of Canada lowered their target price on Gilead Sciences from $122.00 to $120.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 7th. Truist Financial lowered their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Finally, Wall Street Zen downgraded Gilead Sciences from a "buy" rating to a "hold" rating in a research note on Saturday. Twenty-five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.93.

Gilead Sciences Profile

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.

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