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

Eli Lilly and Company (NYSE:LLY) declared a quarterly dividend on Monday, June 23rd, RTT News reports. Shareholders of record on Friday, August 15th will be given a dividend of 1.50 per share on Wednesday, September 10th. This represents a $6.00 annualized dividend and a yield of 0.78%.

Eli Lilly and Company has a payout ratio of 20.2% 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

LLY stock traded up $4.76 during midday trading on Monday, reaching $767.49. The stock had a trading volume of 1,652,184 shares, compared to its average volume of 3,661,113. The company has a market cap of $727.38 billion, a price-to-earnings ratio of 62.46, a price-to-earnings-growth ratio of 1.11 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company’s fifty day simple moving average is $780.48 and its 200 day simple moving average is $800.76. 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) last released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period last year, the business earned $2.58 earnings per share. As a group, sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LLY. Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Guggenheim restated a “buy” rating and set a $936.00 price target on shares of Eli Lilly and Company in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,011.79.

Institutional Investors Weigh In On Eli Lilly and Company

An institutional investor recently raised its position in Eli Lilly and Company stock. Revolve Wealth Partners LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,471 shares of the company’s stock after purchasing an additional 40 shares during the period. Revolve Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $1,136,000 at the end of the most recent reporting period. 82.53% of the stock is owned by institutional investors and hedge funds.

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.