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

Gilead Sciences, Inc. (NASDAQ:GILD) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders 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 3.18%. The ex-dividend date of this dividend is Friday, December 13th.

Gilead Sciences has increased its dividend by an average of 3.3% annually over the last three years. Gilead Sciences has a dividend payout ratio of 42.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Gilead Sciences to earn $7.28 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 42.3%.

Gilead Sciences Stock Performance

GILD traded down $1.02 during trading on Friday, hitting $96.88. The stock had a trading volume of 1,143,929 shares, compared to its average volume of 7,019,789. The firm has a market cap of $120.61 billion, a PE ratio of 118.29, a P/E/G ratio of 3.13 and a beta of 0.17. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $98.32. The company has a 50 day simple moving average of $84.58 and a 200-day simple moving average of $74.67.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that Gilead Sciences will post 3.75 EPS for the current year.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,437 shares of company stock valued at $5,374,825. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

GILD has been the subject of several research reports. Truist Financial increased their price objective on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research report on Friday. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday. Sanford C. Bernstein began coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Cantor Fitzgerald boosted their price target on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their price objective on Gilead Sciences from $75.00 to $81.00 and gave the stock a “sector perform” rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $90.71.

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.