Gilead Sciences, Inc. (NASDAQ:GILD) Declares Quarterly Dividend of $0.79

Gilead Sciences, Inc. (NASDAQ:GILD) declared a quarterly dividend on Wednesday, February 5th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.79 per share by the biopharmaceutical company on Friday, March 28th. This represents a $3.16 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, March 14th. This is a 2.6% increase from Gilead Sciences’s previous quarterly dividend of $0.77.

Gilead Sciences has increased its dividend by an average of 2.7% per year over the last three years. Gilead Sciences has a payout ratio of 37.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Gilead Sciences to earn $8.11 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 39.0%.

Gilead Sciences Stock Down 2.4 %

Shares of NASDAQ GILD opened at $114.43 on Wednesday. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $119.96. The business has a 50-day simple moving average of $100.56 and a two-hundred day simple moving average of $92.18. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The company has a market cap of $142.50 billion, a P/E ratio of 309.27, a P/E/G ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Research analysts anticipate that Gilead Sciences will post 7.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Wolfe Research assumed coverage on Gilead Sciences in a research report on Friday, November 15th. They set an “outperform” rating and a $110.00 price target for the company. Daiwa America upgraded Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Finally, Mizuho lifted their price target on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.52.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 293,356 shares of company stock valued at $29,166,240 over the last ninety days. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

An institutional investor recently raised its position in Gilead Sciences stock. Brighton Jones LLC raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 20.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,359 shares of the biopharmaceutical company’s stock after acquiring an additional 2,450 shares during the period. Brighton Jones LLC’s holdings in Gilead Sciences were worth $1,326,000 as of its most recent SEC filing. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Company Profile

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.