Eli Lilly and Company (NYSE:LLY) Declares Quarterly Dividend of $1.30

Eli Lilly and Company (NYSE:LLY) declared a quarterly dividend on Monday, May 6th, RTT News reports. Investors of record on Thursday, May 16th will be given a dividend of 1.30 per share on Monday, June 10th. This represents a $5.20 annualized dividend and a yield of 0.68%.

Eli Lilly and Company has raised its dividend payment by an average of 15.2% annually over the last three years and has raised its dividend every year for the last 10 years. Eli Lilly and Company has a payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Eli Lilly and Company to earn $18.86 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 27.6%.

Eli Lilly and Company Price Performance

Shares of LLY traded up $25.39 during trading hours on Monday, reaching $760.36. 1,787,258 shares of the company’s stock traded hands, compared to its average volume of 3,071,777. Eli Lilly and Company has a 12 month low of $419.80 and a 12 month high of $800.78. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock has a market cap of $722.65 billion, a PE ratio of 111.10, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. The firm’s 50 day simple moving average is $761.06 and its 200-day simple moving average is $672.28.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 earnings per share. Equities analysts expect that Eli Lilly and Company will post 13.82 EPS for the current year.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Truist Financial increased their price target on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley boosted their price objective on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, The Goldman Sachs Group increased their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $757.95.

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.