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. StockNews.com 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 MarketBeat.com, 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

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILDFree Report).

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

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