Eli Lilly and Company (NYSE:LLY) Announces $1.30 Quarterly Dividend

Eli Lilly and Company (NYSE:LLY) announced a quarterly dividend on Monday, October 28th,RTT News reports. Stockholders of record on Friday, November 15th will be paid a dividend of 1.30 per share on Tuesday, December 10th. This represents a $5.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th.

Eli Lilly and Company has raised its dividend by an average of 15.2% per year over the last three years. Eli Lilly and Company has a dividend payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eli Lilly and Company to earn $23.71 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 21.9%.

Eli Lilly and Company Trading Down 0.9 %

Shares of LLY opened at $811.30 on Thursday. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The stock has a market cap of $770.18 billion, a PE ratio of 87.71, a price-to-earnings-growth ratio of 3.10 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm’s fifty day moving average is $891.02 and its two-hundred day moving average is $870.71.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. Research analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LLY shares. Guggenheim lifted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Barclays reduced their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,008.41.

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.