Confluence Investment Management LLC Sells 16,861 Shares of Gilead Sciences, Inc. $GILD

Confluence Investment Management LLC decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 952,946 shares of the biopharmaceutical company’s stock after selling 16,861 shares during the quarter. Gilead Sciences comprises approximately 1.5% of Confluence Investment Management LLC’s holdings, making the stock its 25th largest position. Confluence Investment Management LLC owned about 0.08% of Gilead Sciences worth $105,777,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Gilead Sciences in the second quarter worth $2,150,268,000. Ameriprise Financial Inc. raised its stake in Gilead Sciences by 397.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,748,403 shares of the biopharmaceutical company’s stock valued at $748,147,000 after purchasing an additional 5,392,191 shares during the last quarter. Invesco Ltd. boosted its holdings in Gilead Sciences by 33.5% in the 2nd quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock valued at $1,499,098,000 after purchasing an additional 3,394,330 shares during the period. Assenagon Asset Management S.A. grew its position in Gilead Sciences by 164.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,489,062 shares of the biopharmaceutical company’s stock worth $387,286,000 after purchasing an additional 2,169,266 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Gilead Sciences during the 2nd quarter worth about $238,083,000. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $124.16 on Tuesday. The business has a 50 day simple moving average of $122.47 and a 200 day simple moving average of $116.31. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.45 and a quick ratio of 1.31. The company has a market capitalization of $154.04 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 0.69 and a beta of 0.32. Gilead Sciences, Inc. has a one year low of $88.57 and a one year high of $128.70.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.31. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.42 billion. Gilead Sciences had a return on equity of 51.86% and a net margin of 27.88%.The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.02 earnings per share. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, December 15th. Gilead Sciences’s dividend payout ratio (DPR) is currently 48.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Dbs Bank upgraded shares of Gilead Sciences to a “moderate buy” rating in a research note on Friday, September 5th. Citigroup raised their price objective on Gilead Sciences from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Truist Financial started coverage on Gilead Sciences in a research report on Monday, November 24th. They set a “buy” rating and a $140.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Gilead Sciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Scotiabank assumed coverage on shares of Gilead Sciences in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $140.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.54.

Insider Transactions at Gilead Sciences

In other news, EVP Deborah H. Telman sold 53,646 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $122.85, for a total value of $6,590,411.10. Following the transaction, the executive vice president directly owned 43,676 shares of the company’s stock, valued at $5,365,596.60. The trade was a 55.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $125.08, for a total value of $625,400.00. Following the sale, the director owned 8,920 shares in the company, valued at approximately $1,115,713.60. This trade represents a 35.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 136,257 shares of company stock valued at $16,723,492. 0.27% of the stock is owned by company insiders.

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.