Eli Lilly and Company (NYSE:LLY) Plans Quarterly Dividend of $1.50

Eli Lilly and Company (NYSE:LLY) announced a quarterly dividend on Monday, May 5th, RTT News reports. Investors of record on Friday, May 16th will be paid a dividend of 1.50 per share on Tuesday, June 10th. This represents a $6.00 annualized dividend and a yield of 0.73%.

Eli Lilly and Company has raised its dividend by an average of 15.2% per year over the last three years and has increased its dividend every year for the last 11 years. Eli Lilly and Company has a payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eli Lilly and Company to earn $31.12 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 19.3%.

Eli Lilly and Company Stock Down 0.2 %

Shares of Eli Lilly and Company stock opened at $821.66 on Tuesday. The company has a 50-day simple moving average of $823.48 and a two-hundred day simple moving average of $814.29. The stock has a market capitalization of $779.07 billion, a PE ratio of 70.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business’s revenue was up 45.2% compared to the same quarter last year. During the same period last year, the company posted $2.58 earnings per share. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on LLY. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price for the company. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,002.80.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

A hedge fund recently raised its stake in Eli Lilly and Company stock. Brighton Jones LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 22.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,597 shares of the company’s stock after buying an additional 1,730 shares during the period. Brighton Jones LLC’s holdings in Eli Lilly and Company were worth $7,409,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Company Profile

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.