Confluence Investment Management LLC Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Confluence Investment Management LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILDFree Report) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 1,245,994 shares of the biopharmaceutical company’s stock, valued at approximately $91,269,000.

Several other institutional investors also recently bought and sold shares of GILD. Tompkins Financial Corp boosted its position in shares of Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Gilead Sciences in the 4th quarter worth about $29,000. Sachetta LLC purchased a new stake in shares of Gilead Sciences in the 4th quarter worth about $30,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter worth about $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

NASDAQ GILD traded down $1.26 during trading hours on Tuesday, hitting $63.01. The company had a trading volume of 1,819,230 shares, compared to its average volume of 7,222,252. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The business has a fifty day simple moving average of $65.92 and a 200-day simple moving average of $73.23. The firm has a market cap of $78.50 billion, a P/E ratio of 178.53, a price-to-earnings-growth ratio of 1.30 and a beta of 0.20.

Gilead Sciences (NASDAQ:GILDGet Free Report) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same period last year, the company earned $1.37 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts predict that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho decreased their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Wells Fargo & Company reduced their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a report on Friday, April 19th. Finally, HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a report on Wednesday, April 24th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to, the company presently has a consensus rating of “Hold” and a consensus target price of $83.69.

View Our Latest Analysis on Gilead Sciences

About Gilead Sciences

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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