Jupiter Topco LLC Buys Shares of 3,546,841 Gilead Sciences, Inc. $GILD

Jupiter Topco LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,546,841 shares of the biopharmaceutical company’s stock, valued at approximately $448,021,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GILD. ADAR1 Capital Management LLC purchased a new position in Gilead Sciences during the second quarter worth about $587,000. EFG International AG acquired a new position in shares of Gilead Sciences in the 2nd quarter worth approximately $1,123,000. Ancora Advisors LLC acquired a new stake in Gilead Sciences in the 2nd quarter valued at approximately $15,346,000. Palisade Capital Management LP purchased a new stake in Gilead Sciences in the second quarter valued at approximately $346,000. Finally, Canada Pension Plan Investment Board acquired a new position in Gilead Sciences during the second quarter worth $310,281,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the completion of the transaction, the insider owned 118,234 shares in the company, valued at $16,273,727.76. The trade was a 19.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the transaction, the chief executive officer owned 592,133 shares of the company’s stock, valued at $77,160,851.23. This trade represents a 2.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,000 shares of company stock worth $11,562,960 in the last ninety days. 0.30% of the stock is owned by insiders.

Gilead Sciences Trading Up 1.4%

GILD opened at $148.77 on Wednesday. Gilead Sciences, Inc. has a 12 month low of $108.46 and a 12 month high of $157.29. The stock has a market capitalization of $184.47 billion, a price-to-earnings ratio of -55.72 and a beta of 0.32. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The business has a fifty day moving average price of $132.85 and a 200 day moving average price of $136.59.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. The company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.Gilead Sciences’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.01 EPS. Sell-side analysts expect that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.2%. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.

Analysts Set New Price Targets

GILD has been the topic of several research analyst reports. Daiwa Securities Group cut their price objective on Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, May 19th. HSBC upgraded Gilead Sciences from a “hold” rating to a “buy” rating and raised their target price for the company from $133.00 to $155.00 in a report on Monday, July 6th. Rothschild & Co Redburn cut their price target on shares of Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. Maxim Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada lifted their price objective on shares of Gilead Sciences from $120.00 to $123.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.04.

About Gilead Sciences

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.