Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 61.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,464 shares of the biopharmaceutical company's stock after selling 8,871 shares during the period. Confluence Wealth Services Inc.'s holdings in Gilead Sciences were worth $508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Gilead Sciences during the 3rd quarter worth approximately $25,000. HHM Wealth Advisors LLC raised its stake in shares of Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. Valued Wealth Advisors LLC boosted its holdings in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 161 shares during the period. Decker Retirement Planning Inc. purchased a new stake in Gilead Sciences during the 4th quarter worth about $29,000. Finally, Crews Bank & Trust acquired a new stake in Gilead Sciences in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analysts Set New Price Targets

GILD has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a "neutral" rating and set a $80.00 price objective on shares of Gilead Sciences in a research report on Wednesday, December 11th. Mizuho increased their price objective on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Wolfe Research assumed coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They set an "outperform" rating and a $110.00 price objective for the company. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a report on Thursday, November 7th. Finally, Maxim Group downgraded Gilead Sciences from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $98.39.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded down $2.00 during trading hours on Friday, hitting $96.04. 7,182,199 shares of the company were exchanged, compared to its average volume of 6,866,207. The business has a 50-day moving average of $93.04 and a 200-day moving average of $86.76. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $100.51. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $119.69 billion, a price-to-earnings ratio of 1,067.11, a P/E/G ratio of 1.25 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $2.29 EPS. As a group, analysts expect that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal year.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 164,211 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the transaction, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. This trade represents a 67.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 572,824 shares of company stock worth $53,611,715 over the last 90 days. Company insiders own 0.16% of the company's stock.

Gilead Sciences Company 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.