Eli Lilly and Company (LLY) to Issue Quarterly Dividend of $1.30 on December 10th

Eli Lilly and Company (NYSE:LLY) declared 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 is Friday, November 15th.

Eli Lilly and Company has increased its dividend by an average of 15.2% annually over the last three years. Eli Lilly and Company has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE LLY opened at $818.79 on Wednesday. The stock has a market capitalization of $777.29 billion, a price-to-earnings ratio of 88.52, a PEG ratio of 3.15 and a beta of 0.43. The business has a 50-day moving average of $893.78 and a 200-day moving average of $870.11. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53.

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

Wall Street Analyst Weigh In

LLY has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Finally, BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,008.41.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s 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 sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

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.