Eli Lilly and Company (NYSE:LLY) to Issue Quarterly Dividend of $1.30

Eli Lilly and Company (NYSE:LLY) declared a quarterly dividend on Monday, June 24th, Wall Street Journal reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 1.30 per share on Tuesday, September 10th. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th.

Eli Lilly and Company has raised its dividend payment by an average of 15.2% annually over the last three years. Eli Lilly and Company has a dividend payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eli Lilly and Company to earn $19.44 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 26.7%.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $907.95 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $966.10. The firm has a market cap of $862.92 billion, a P/E ratio of 133.72, a P/E/G ratio of 1.81 and a beta of 0.41. The business’s fifty day moving average is $873.64 and its two-hundred day moving average is $800.31.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock worth $1,066,841,316 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on LLY shares. Morgan Stanley reiterated an “overweight” rating and issued a $1,023.00 price objective on shares of Eli Lilly and Company in a report on Friday, July 5th. JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price target for the company from $725.00 to $1,025.00 in a research note on Monday. Bank of America lifted their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Argus boosted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $945.35.

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.