Gilead Sciences, Inc. (NASDAQ:GILD) Increases Dividend to $0.79 Per Share

Gilead Sciences, Inc. (NASDAQ:GILD) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.79 per share by the biopharmaceutical company on Friday, March 28th. This represents a $3.16 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77.

Gilead Sciences has raised its dividend by an average of 2.7% per year over the last three years. Gilead Sciences has a payout ratio of 38.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gilead Sciences to earn $7.60 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 40.5%.

Gilead Sciences Price Performance

NASDAQ:GILD traded up $7.17 during midday trading on Wednesday, hitting $103.31. 15,880,050 shares of the stock were exchanged, compared to its average volume of 7,309,862. The company has a market capitalization of $128.75 billion, a price-to-earnings ratio of 1,147.89, a P/E/G ratio of 1.25 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences has a one year low of $62.07 and a one year high of $104.71. The business has a 50-day moving average price of $93.14 and a two-hundred day moving average price of $87.12.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Sell-side analysts predict that Gilead Sciences will post 4.35 EPS for the current year.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This trade represents a 67.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction that occurred 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 $11,863,898.55. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 572,824 shares of company stock worth $53,611,715. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GILD shares. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. UBS Group raised their target price on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Barclays upped their price target on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.04.

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.