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

Gilead Sciences, Inc. (NASDAQ:GILD) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.77 per share by the biopharmaceutical company on Monday, December 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Friday, December 13th.

Gilead Sciences has increased its dividend payment by an average of 3.3% per year over the last three years. Gilead Sciences has a payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Gilead Sciences to earn $7.38 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 41.7%.

Gilead Sciences Stock Up 1.9 %

Shares of NASDAQ GILD opened at $92.34 on Wednesday. The stock has a market capitalization of $115.08 billion, a price-to-earnings ratio of 1,026.00, a P/E/G ratio of 2.86 and a beta of 0.18. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The firm’s 50-day moving average price is $89.33 and its 200-day moving average price is $78.89.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $2.29 EPS. On average, equities research analysts anticipate that Gilead Sciences will post 4.37 EPS for the current fiscal year.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 476,591 shares of company stock valued at $43,747,615 over the last quarter. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Gilead Sciences from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Monday, November 18th. Piper Sandler increased their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Mizuho boosted their target price on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Citigroup initiated coverage on Gilead Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $125.00 price target for the company. Twelve analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.43.

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.