Jupiter Topco LLC Buys New Stake in Gilead Sciences, Inc. $GILD

Key Points

• Jupiter Topco LLC acquired 3.55 million Gilead Sciences shares worth approximately $448 million, representing about 0.29% of the company. Institutional investors collectively own 83.67% of Gilead.
• Gilead reported quarterly revenue of $7.8 billion, exceeding estimates, although it posted a loss per share and negative margins. Analysts maintain a “Moderate Buy” consensus with an average price target of $158.04.
• Gilead declared a quarterly dividend of $0.82 per share, or $3.28 annualized, equating to a 2.2% yield. Insiders sold 87,000 shares worth about $11.6 million over the past 90 days.

Jupiter Topco LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,546,841 shares of the biopharmaceutical company's stock, valued at approximately $448,021,000. Jupiter Topco LLC owned approximately 0.29% of Gilead Sciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Paulson Wealth Management Inc. grew its position in shares of Gilead Sciences by 1.8% during the 4th quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company's stock valued at $477,000 after acquiring an additional 67 shares during the period. Essex Financial Services Inc. increased its stake in shares of Gilead Sciences by 0.9% in the 4th quarter. Essex Financial Services Inc. now owns 7,724 shares of the biopharmaceutical company's stock valued at $948,000 after purchasing an additional 71 shares in the last quarter. Davidson Trust Co. raised its holdings in Gilead Sciences by 4.1% in the 1st quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company's stock worth $262,000 after purchasing an additional 74 shares during the period. Alpha Cubed Investments LLC raised its holdings in Gilead Sciences by 1.1% in the 4th quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company's stock worth $812,000 after purchasing an additional 75 shares during the period. Finally, Financial Connections Group Inc. boosted its position in Gilead Sciences by 30.2% during the first quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction on Monday, August 17th. The stock was sold at an average price of $138.36, for a total transaction of $415,080.00. Following the transaction, the chief financial officer owned 165,646 shares in the company, valued at $22,918,780.56. The trade was a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the transaction, the insider directly owned 118,234 shares in the company, valued at approximately $16,273,727.76. The trade was a 19.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 87,000 shares of company stock worth $11,562,960. 0.30% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $148.77 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year high of $157.29. The firm has a market capitalization of $184.47 billion, a PE ratio of -55.72 and a beta of 0.32. The business's 50 day moving average price is $132.85 and its 200-day moving average price is $136.59.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate of ($7.25) by $0.50. The firm had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The firm's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.01 EPS. As a group, equities research analysts expect that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

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

Analyst Ratings Changes

GILD has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $170.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Rothschild & Co Redburn decreased their target price on Gilead Sciences from $170.00 to $167.00 in a research report 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 note on Wednesday, May 20th. Barclays cut their price target on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. Finally, Morgan Stanley decreased their price objective on shares of Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating on the stock in a report on Monday, July 27th. Twenty-four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $158.04.

Gilead Sciences Profile

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.

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