Cubist Systematic Strategies LLC Acquires 182,921 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

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Cubist Systematic Strategies LLC boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 315.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 240,957 shares of the biopharmaceutical company’s stock after purchasing an additional 182,921 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Gilead Sciences were worth $16,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in GILD. Advisors Preferred LLC acquired a new position in Gilead Sciences during the second quarter worth approximately $26,000. Weaver Consulting Group acquired a new position in Gilead Sciences during the first quarter worth approximately $34,000. Trustcore Financial Services LLC acquired a new position in Gilead Sciences during the first quarter worth approximately $34,000. Legacy Advisors LLC acquired a new position in Gilead Sciences during the second quarter worth approximately $37,000. Finally, Evolution Wealth Advisors LLC acquired a new position in Gilead Sciences during the second quarter worth approximately $46,000. Hedge funds and other institutional investors own 79.57% of the company’s stock.

NASDAQ GILD traded up $0.67 on Friday, hitting $66.63. 2,195,783 shares of the company’s stock were exchanged, compared to its average volume of 5,563,156. The stock has a 50-day moving average of $64.41 and a 200-day moving average of $65.46. The stock has a market cap of $83.80 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 3.14 and a beta of 1.10. The company has a current ratio of 3.76, a quick ratio of 3.67 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a 52 week low of $60.32 and a 52 week high of $79.61.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.14. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.54 billion. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.91 earnings per share. As a group, analysts predict that Gilead Sciences, Inc. will post 6.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.63 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.52 dividend on an annualized basis and a yield of 3.78%. Gilead Sciences’s payout ratio is 40.98%.

In other Gilead Sciences news, EVP Brett A. Pletcher sold 7,200 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $65.07, for a total value of $468,504.00. Following the completion of the sale, the executive vice president now owns 34,398 shares in the company, valued at approximately $2,238,277.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Brett A. Pletcher sold 608 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $64.35, for a total transaction of $39,124.80. Following the completion of the sale, the executive vice president now owns 27,198 shares of the company’s stock, valued at approximately $1,750,191.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,716 shares of company stock valued at $821,299. Company insiders own 0.20% of the company’s stock.

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Monday, July 15th. Credit Suisse Group reduced their price objective on Gilead Sciences from $70.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Co upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $68.00 to $88.00 in a report on Monday, July 15th. JPMorgan Chase & Co. restated a “buy” rating and set a $85.00 price objective on shares of Gilead Sciences in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald set a $88.00 price objective on Gilead Sciences and gave the stock a “buy” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $82.24.

Gilead Sciences Profile

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

Further Reading: What is Cost of Debt?

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD).

Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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