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

Eli Lilly and Company (NYSE:LLY - Get Free Report) 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 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, May 16th.

Eli Lilly and Company has increased its dividend by an average of 15.2% annually over the last three years and has raised its dividend every year for the last 11 years. Eli Lilly and Company has a payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE:LLY traded up $1.82 during trading hours on Wednesday, hitting $776.94. The company's stock had a trading volume of 3,805,023 shares, compared to its average volume of 3,489,335. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a fifty day simple moving average of $818.04 and a 200-day simple moving average of $813.77. The company has a market capitalization of $736.33 billion, a P/E ratio of 66.35, a PEG ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share 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 return on equity of 85.24% and a net margin of 23.51%. The business's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 EPS. 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 equities research analysts have commented on the company. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a report on Friday, January 17th. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $1,002.80.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Eli Lilly and Company

A hedge fund recently raised its stake in Eli Lilly and Company stock. Brighton Jones LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 22.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,597 shares of the company's stock after purchasing an additional 1,730 shares during the quarter. Brighton Jones LLC's holdings in Eli Lilly and Company were worth $7,409,000 as of its most recent SEC filing. 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.