Eli Lilly and Company (NYSE:LLY) Trading Up 1.4% Following Dividend Announcement

Eli Lilly and Company (NYSE:LLY - Get Free Report) traded up 1.4% during trading on Monday following a dividend announcement from the company. The company traded as high as $793.21 and last traded at $773.42. 1,097,118 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 3,658,616 shares. The stock had previously closed at $762.73.The newly announced dividend which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company's payout ratio is currently 48.82%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, UBS Group dropped their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.79.

Eli Lilly and Company Stock Up 0.6%

The firm's 50-day moving average price is $780.48 and its 200 day moving average price is $800.76. The company has a market capitalization of $727.36 billion, a price-to-earnings ratio of 62.68, a PEG ratio of 1.11 and a beta of 0.41. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 earnings per share. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Eli Lilly and Company

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after buying an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Norges Bank bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $8,407,908,000. Nuveen LLC bought a new stake in shares of Eli Lilly and Company in the first quarter valued at $4,613,912,000. Finally, Proficio Capital Partners LLC raised its stake in shares of Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock valued at $4,016,110,000 after buying an additional 5,197,038 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

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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