Confluence Wealth Services Inc. Has $784,000 Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Confluence Wealth Services Inc. boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 30.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,697 shares of the biopharmaceutical company’s stock after purchasing an additional 2,500 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Gilead Sciences were worth $784,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. OFI Invest Asset Management bought a new stake in Gilead Sciences in the 3rd quarter valued at $26,000. Tompkins Financial Corp boosted its holdings in Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 241 shares during the period. Fortitude Family Office LLC bought a new stake in Gilead Sciences in the 4th quarter valued at $29,000. Private Wealth Management Group LLC bought a new stake in Gilead Sciences in the 4th quarter valued at $29,000. Finally, Sachetta LLC bought a new stake in Gilead Sciences in the 4th quarter valued at $30,000. 83.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, March 4th. Royal Bank of Canada dropped their price objective on shares of Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a research note on Friday. Oppenheimer restated an “outperform” rating and issued a $105.00 price objective on shares of Gilead Sciences in a research note on Friday, April 19th. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Cantor Fitzgerald dropped their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Wednesday, February 7th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.60.

Gilead Sciences Price Performance

GILD traded down $0.74 during midday trading on Tuesday, hitting $65.20. The company had a trading volume of 7,433,077 shares, compared to its average volume of 7,480,851. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98. The company has a market capitalization of $81.18 billion, a PE ratio of 181.11, a P/E/G ratio of 1.29 and a beta of 0.19. Gilead Sciences, Inc. has a twelve month low of $64.63 and a twelve month high of $87.86. The firm’s 50-day simple moving average is $71.03 and its 200-day simple moving average is $76.08.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.17. The firm had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. Equities research analysts predict that Gilead Sciences, Inc. will post 3.82 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed 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 4.72%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s payout ratio is presently 855.56%.

Insider Buying and Selling at Gilead Sciences

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

About Gilead Sciences

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.