Eli Lilly and Company (NYSE:LLY – Get Free Report) announced a quarterly dividend on Monday, May 6th, RTT News reports. Stockholders of record on Thursday, May 16th will be paid a dividend of 1.30 per share on Monday, June 10th. This represents a $5.20 annualized dividend and a dividend yield of 0.68%.
Eli Lilly and Company has raised its dividend payment by an average of 15.2% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Eli Lilly and Company has a payout ratio of 28.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eli Lilly and Company to earn $18.86 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 27.6%.
Eli Lilly and Company Trading Up 4.3 %
Shares of NYSE LLY opened at $766.74 on Tuesday. Eli Lilly and Company has a fifty-two week low of $419.80 and a fifty-two week high of $800.78. The firm has a market capitalization of $728.72 billion, a P/E ratio of 112.92, a P/E/G ratio of 1.45 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The company’s 50 day simple moving average is $760.96 and its 200 day simple moving average is $673.52.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on LLY. Truist Financial raised their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Citigroup boosted their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $757.95.
Check Out Our Latest Research Report on Eli Lilly and Company
About Eli Lilly and Company
Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.
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