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

Eli Lilly and Company (NYSE:LLY) announced a quarterly dividend on Monday, October 28th,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th.

Eli Lilly and Company has increased its dividend payment by an average of 15.2% annually over the last three years. Eli Lilly and Company has a payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE LLY opened at $811.30 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The business has a 50-day moving average price of $891.02 and a 200-day moving average price of $870.71. The firm has a market cap of $770.18 billion, a price-to-earnings ratio of 87.71, a price-to-earnings-growth ratio of 3.10 and a beta of 0.43.

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company increased their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,008.41.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

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.