Gilead Sciences, Inc. (GILD) to Issue Quarterly Dividend of $0.77 on September 27th

Gilead Sciences, Inc. (NASDAQ:GILD) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Friday, September 13th will be paid 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 3.78%. The ex-dividend date is Friday, September 13th.

Gilead Sciences has raised its dividend payment by an average of 3.3% per year over the last three years and has raised its dividend every year for the last 9 years. Gilead Sciences has a payout ratio of 42.8% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of Gilead Sciences stock opened at $81.44 on Wednesday. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $87.86. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $101.39 billion, a P/E ratio of 226.22, a PEG ratio of 2.73 and a beta of 0.18. The company has a 50 day moving average price of $74.53 and a 200 day moving average price of $70.65.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Sell-side analysts expect that Gilead Sciences will post 3.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GILD. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Monday, July 8th. BMO Capital Markets boosted their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Truist Financial upped their price objective on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were 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 in the company, valued at $6,614,559.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction 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 sale, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is currently 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.