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

Gilead Sciences, Inc. (NASDAQ:GILD) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Friday, June 14th will be given 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 is Friday, June 14th.

Gilead Sciences has increased 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. Equities 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

NASDAQ GILD traded up $0.15 during trading hours on Friday, hitting $65.42. 12,382,425 shares of the company’s stock traded hands, compared to its average volume of 6,443,315. Gilead Sciences has a 52-week low of $64.63 and a 52-week high of $87.86. The company has a market capitalization of $81.45 billion, a PE ratio of 181.72, a PEG ratio of 1.17 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The firm’s 50-day moving average is $71.28 and its 200-day moving average is $76.25.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same quarter in the prior year, the company earned $1.37 EPS. Gilead Sciences’s revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Gilead Sciences will post 4.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on GILD shares. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Morgan Stanley decreased their target price 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. Wells Fargo & Company decreased 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. Cantor Fitzgerald decreased their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. Finally, Truist Financial lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $91.00 to $82.00 in a report on Thursday, February 22nd. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Hold” and an average price target of $83.87.

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.