Gilead Sciences, Inc. Declares Quarterly Dividend of $0.77 (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.77 per share by the biopharmaceutical company on Thursday, June 27th. This represents a $3.08 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Friday, June 14th.

Gilead Sciences has raised its dividend payment by an average of 3.3% annually over the last three years and has raised its dividend every year for the last 9 years. Gilead Sciences has a dividend payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gilead Sciences to earn $7.27 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 42.4%.

Gilead Sciences Price Performance

GILD traded up $0.15 on Friday, reaching $65.42. The company had a trading volume of 12,382,425 shares, compared to its average volume of 6,443,315. The business has a 50 day simple moving average of $71.28 and a 200 day simple moving average of $76.25. The company has a market cap of $81.45 billion, a price-to-earnings ratio of 181.72, a P/E/G ratio of 1.17 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. Gilead Sciences has a 52-week low of $64.63 and a 52-week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The firm had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same period last year, the firm posted $1.37 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gilead Sciences will post 4.2 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley cut their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a report on Wednesday. TD Cowen cut their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday. Finally, Wells Fargo & Company dropped their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $83.87.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

About Gilead Sciences

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.