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

Gilead Sciences, Inc. (NASDAQ:GILD) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.77 per share by the biopharmaceutical company on Friday, September 27th. This represents a $3.08 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, September 13th.

Gilead Sciences has increased its dividend payment by an average of 3.3% per year over the last three years and has increased its dividend every year for the last 9 years. Gilead Sciences has a payout ratio of 42.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Gilead Sciences to earn $7.24 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 42.5%.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $80.94 on Thursday. The firm has a market cap of $100.77 billion, a price-to-earnings ratio of 224.83, a P/E/G ratio of 2.73 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $87.86. The firm’s 50-day simple moving average is $74.82 and its 200 day simple moving average is $70.72.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The firm had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. As a group, sell-side analysts predict that Gilead Sciences will post 3.78 earnings per share for the current year.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Monday, July 8th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Robert W. Baird restated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Thursday, June 20th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a research note on Monday. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $82.06.

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.