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

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

Eli Lilly and Company has a dividend payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NYSE:LLY traded up $4.76 on Monday, hitting $767.49. The stock had a trading volume of 1,652,184 shares, compared to its average volume of 3,661,113. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The stock 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. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The business’s 50-day simple moving average is $780.48 and its two-hundred day simple moving average is $800.76.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 earnings per share. As a group, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LLY. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Guggenheim reiterated a “buy” rating and set a $936.00 price objective on shares of Eli Lilly and Company in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,011.79.

Hedge Funds Weigh In On Eli Lilly and Company

A hedge fund recently raised its stake in Eli Lilly and Company stock. Revolve Wealth Partners LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,471 shares of the company’s stock after purchasing an additional 40 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $1,136,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.