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

Eli Lilly and Company (NYSE:LLY) declared 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 0.58%.

Eli Lilly and Company has increased its dividend by an average of 15.2% per year over the last three years. Eli Lilly and Company has a payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eli Lilly and Company to earn $24.24 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 21.5%.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $2.59 on Monday, reaching $895.29. 701,216 shares of the company were exchanged, compared to its average volume of 2,947,706. The firm has a market cap of $850.89 billion, a price-to-earnings ratio of 131.61, a P/E/G ratio of 3.24 and a beta of 0.42. Eli Lilly and Company has a 1-year low of $547.61 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The company’s 50-day moving average is $919.74 and its two-hundred day moving average is $863.20.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, research analysts expect that Eli Lilly and Company will post 14.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial increased their price objective 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 research note on Monday, September 16th. JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Guggenheim boosted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,013.41.

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.