Confluence Investment Management LLC Has $105.78 Million Stock Position in Gilead Sciences, Inc. $GILD

Confluence Investment Management LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 952,946 shares of the biopharmaceutical company’s stock after selling 16,861 shares during the period. Gilead Sciences makes up approximately 1.5% of Confluence Investment Management LLC’s holdings, making the stock its 25th biggest holding. Confluence Investment Management LLC’s holdings in Gilead Sciences were worth $105,777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GILD. Sivik Global Healthcare LLC grew its holdings in shares of Gilead Sciences by 25.0% in the 2nd quarter. Sivik Global Healthcare LLC now owns 50,000 shares of the biopharmaceutical company’s stock valued at $5,544,000 after buying an additional 10,000 shares during the period. Invesco Ltd. lifted its holdings in Gilead Sciences by 33.5% during the second quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock worth $1,499,098,000 after acquiring an additional 3,394,330 shares in the last quarter. One Wealth Advisors LLC grew its stake in Gilead Sciences by 34.8% in the second quarter. One Wealth Advisors LLC now owns 9,163 shares of the biopharmaceutical company’s stock valued at $1,016,000 after acquiring an additional 2,364 shares during the period. Jump Financial LLC acquired a new stake in shares of Gilead Sciences during the second quarter worth about $6,988,000. Finally, Simplify Asset Management Inc. lifted its holdings in shares of Gilead Sciences by 148.6% during the 2nd quarter. Simplify Asset Management Inc. now owns 52,890 shares of the biopharmaceutical company’s stock valued at $5,864,000 after purchasing an additional 31,618 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GILD. Sanford C. Bernstein restated an “outperform” rating on shares of Gilead Sciences in a report on Monday, November 3rd. Needham & Company LLC increased their price objective on shares of Gilead Sciences from $133.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. UBS Group raised shares of Gilead Sciences to a “hold” rating in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gilead Sciences in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $135.00 price target on shares of Gilead Sciences in a research note on Friday, October 31st. Two equities research 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 has an average rating of “Moderate Buy” and an average target price of $131.54.

Insider Transactions at Gilead Sciences

In related news, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $126.54, for a total value of $1,265,400.00. Following the completion of the transaction, the chief executive officer directly owned 571,203 shares of the company’s stock, valued at approximately $72,280,027.62. This trade represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $125.86, for a total transaction of $3,524,080.00. Following the transaction, the insider owned 107,193 shares in the company, valued at approximately $13,491,310.98. The trade was a 20.71% 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 insiders.

Gilead Sciences Stock Performance

Shares of GILD opened at $124.16 on Tuesday. The stock has a market capitalization of $154.04 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 0.69 and a beta of 0.32. Gilead Sciences, Inc. has a 12 month low of $88.57 and a 12 month high of $128.70. The firm has a fifty day simple moving average of $122.47 and a 200 day simple moving average of $116.31. The company has a current ratio of 1.45, a quick ratio of 1.31 and a debt-to-equity ratio of 1.03.

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

Gilead Sciences Announces Dividend

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

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.