Confluence Wealth Services Inc. Has $1.20 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Confluence Wealth Services Inc. cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,335 shares of the biopharmaceutical company’s stock after selling 572 shares during the period. Confluence Wealth Services Inc.’s holdings in Gilead Sciences were worth $1,202,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GILD. CarsonAllaria Wealth Management Ltd. increased its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares during the last quarter. nVerses Capital LLC bought a new stake in Gilead Sciences in the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC raised 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 worth $27,000 after purchasing an additional 161 shares during the period. Cedar Wealth Management LLC boosted its position in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays lifted their target price on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $75.00 price target on shares of Gilead Sciences in a research report on Tuesday, October 29th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $86.85.

Gilead Sciences Trading Up 0.8 %

Shares of NASDAQ:GILD opened at $89.51 on Monday. The stock has a market cap of $111.44 billion, a PE ratio of 109.16, a P/E/G ratio of 3.09 and a beta of 0.17. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $89.74. The business has a 50 day moving average of $83.79 and a 200-day moving average of $74.21.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. As a group, equities research analysts forecast that Gilead Sciences, Inc. will post 3.75 earnings per share for the current year.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is owned by company insiders.

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.