Confluence Wealth Services Inc. Sells 8,871 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Confluence Wealth Services Inc. trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 61.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,464 shares of the biopharmaceutical company’s stock after selling 8,871 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Gilead Sciences were worth $508,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GILD. Mirae Asset Global Investments Co. Ltd. lifted its position in Gilead Sciences by 8.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 434,165 shares of the biopharmaceutical company’s stock valued at $40,689,000 after acquiring an additional 34,549 shares in the last quarter. Y.D. More Investments Ltd raised its position in Gilead Sciences by 43.3% in the 4th quarter. Y.D. More Investments Ltd now owns 1,602 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 484 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Gilead Sciences during the 4th quarter valued at about $145,000. Stratos Investment Management LLC boosted its holdings in shares of Gilead Sciences by 6.2% during the 4th quarter. Stratos Investment Management LLC now owns 2,895 shares of the biopharmaceutical company’s stock valued at $267,000 after acquiring an additional 170 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Gilead Sciences by 31.0% in the fourth quarter. Retirement Systems of Alabama now owns 998,307 shares of the biopharmaceutical company’s stock worth $92,214,000 after acquiring an additional 236,453 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 572,824 shares of company stock valued at $53,611,715. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup began coverage on shares of Gilead Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price on the stock. Robert W. Baird raised their price target on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Bank of America restated a “buy” rating and set a $109.00 target price on shares of Gilead Sciences in a research report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Finally, Truist Financial boosted their price target on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $98.39.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $99.65 on Thursday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $100.51. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average price is $92.71 and its 200-day moving average price is $86.32. The company has a market cap of $124.19 billion, a PE ratio of 1,107.22, a price-to-earnings-growth ratio of 1.37 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period last year, the company earned $2.29 earnings per share. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Gilead Sciences, Inc. will post 4.34 EPS for the current fiscal year.

Gilead Sciences Profile

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.