Gilead Sciences, Inc. Declares Quarterly Dividend of $0.73 (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) announced a quarterly dividend on Monday, May 2nd, Wall Street Journal reports. Stockholders of record on Wednesday, June 15th will be given a dividend of 0.73 per share by the biopharmaceutical company on Wednesday, June 29th. This represents a $2.92 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend is Tuesday, June 14th.

Gilead Sciences has raised its dividend by an average of 7.6% annually over the last three years and has raised its dividend every year for the last 7 years. Gilead Sciences has a dividend payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Gilead Sciences to earn $6.34 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 46.1%.

GILD opened at $60.31 on Tuesday. Gilead Sciences has a twelve month low of $57.19 and a twelve month high of $74.12. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The company has a 50-day moving average price of $60.51 and a 200 day moving average price of $65.60. The company has a market cap of $75.62 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.42 and a beta of 0.38.

Gilead Sciences (NASDAQ:GILD – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The biopharmaceutical company reported $2.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.32. Gilead Sciences had a net margin of 16.43% and a return on equity of 44.98%. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. Gilead Sciences’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Gilead Sciences will post 6.51 earnings per share for the current year.

Several analysts have recently weighed in on GILD shares. StockNews.com started coverage on shares of Gilead Sciences in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Barclays dropped their price target on shares of Gilead Sciences from $63.00 to $56.00 and set an “underweight” rating for the company in a research note on Thursday, March 10th. Royal Bank of Canada increased their price objective on shares of Gilead Sciences from $76.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 12th. Bank of America lowered their price objective on shares of Gilead Sciences from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Wednesday, February 2nd. Finally, Piper Sandler increased their price objective on shares of Gilead Sciences from $72.00 to $73.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.38.

In other Gilead Sciences news, EVP Brett A. Pletcher sold 3,634 shares of Gilead Sciences stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $58.24, for a total transaction of $211,644.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brett A. Pletcher sold 1,691 shares of Gilead Sciences stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $63.89, for a total transaction of $108,037.99. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Paradigm Financial Partners LLC acquired a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $471,000. EP Wealth Advisors LLC raised its position in shares of Gilead Sciences by 21.2% in the fourth quarter. EP Wealth Advisors LLC now owns 5,588 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 979 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Gilead Sciences by 128.7% in the fourth quarter. NewEdge Advisors LLC now owns 31,127 shares of the biopharmaceutical company’s stock valued at $2,260,000 after buying an additional 17,516 shares during the last quarter. Titleist Asset Management LTD. acquired a new position in Gilead Sciences during the fourth quarter worth approximately $208,000. Finally, Kingsview Wealth Management LLC increased its position in Gilead Sciences by 6.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 17,979 shares of the biopharmaceutical company’s stock worth $1,305,000 after purchasing an additional 1,046 shares during the last quarter. Institutional investors own 80.16% of the company’s stock.

About Gilead Sciences (Get Rating)

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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.

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