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. Stockholders 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 dividend yield of 4.71%. The ex-dividend date is Friday, June 14th.

Gilead Sciences has raised its dividend by an average of 3.3% per year over the last three years and has increased its dividend annually for the last 9 consecutive 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 Stock Performance

Shares of Gilead Sciences stock traded up $0.15 on Friday, reaching $65.42. 12,382,425 shares of the stock were exchanged, compared to its average volume of 6,443,315. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. Gilead Sciences has a twelve month low of $64.63 and a twelve month high of $87.86. The firm has a market capitalization of $81.45 billion, a price-to-earnings ratio of 181.72, a PEG ratio of 1.17 and a beta of 0.19. The business has a 50 day moving average price of $71.28 and a two-hundred day moving average price of $76.25.

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

Wall Street Analyst Weigh In

GILD has been the subject of a number of research reports. Mizuho decreased their target price on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price for the company in a report on Wednesday. Oppenheimer reissued an “outperform” rating and issued a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Friday. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $83.87.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

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.