Eli Lilly and Company (NYSE:LLY) declared a quarterly dividend on Monday, June 19th, RTT News reports. Shareholders of record on Tuesday, August 15th will be given a dividend of 0.52 per share on Friday, September 8th. This represents a $2.08 dividend on an annualized basis and a yield of 2.54%.

Eli Lilly and Company has raised its dividend payment by an average of 1.3% annually over the last three years and has increased its dividend every year for the last 2 years. Eli Lilly and Company has a dividend payout ratio of 50.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eli Lilly and Company to earn $4.35 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 47.8%.

Eli Lilly and Company (LLY) traded up 0.96% during trading on Monday, reaching $82.67. 865,183 shares of the company’s stock were exchanged. Eli Lilly and Company has a 52 week low of $64.18 and a 52 week high of $86.72. The stock has a 50-day moving average price of $80.08 and a 200 day moving average price of $78.91. The firm has a market capitalization of $87.32 billion, a price-to-earnings ratio of 39.98 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, April 25th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.22 billion. Eli Lilly and Company had a net margin of 10.13% and a return on equity of 26.64%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. Equities research analysts forecast that Eli Lilly and Company will post $4.12 earnings per share for the current fiscal year.

Dividend History for Eli Lilly and Company (NYSE:LLY)

In related news, insider Melissa S. Barnes sold 1,900 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.78, for a total value of $153,482.00. Following the completion of the transaction, the insider now owns 14,041 shares of the company’s stock, valued at approximately $1,134,231.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Harrington sold 22,833 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $79.97, for a total transaction of $1,825,955.01. Following the completion of the transaction, the vice president now directly owns 62,056 shares of the company’s stock, valued at approximately $4,962,618.32. The disclosure for this sale can be found here. Insiders sold a total of 259,733 shares of company stock valued at $21,829,137 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in LLY. North Star Asset Management Inc. purchased a new position in shares of Eli Lilly and Company during the first quarter valued at $224,000. Bank of Nova Scotia boosted its stake in Eli Lilly and Company by 918.6% in the first quarter. Bank of Nova Scotia now owns 224,831 shares of the company’s stock valued at $18,910,000 after buying an additional 202,758 shares during the period. Farmers National Bank boosted its stake in Eli Lilly and Company by 1.7% in the first quarter. Farmers National Bank now owns 7,279 shares of the company’s stock valued at $584,000 after buying an additional 120 shares during the period. Lowe Brockenbrough & Co. Inc. boosted its stake in Eli Lilly and Company by 1.0% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 11,307 shares of the company’s stock valued at $951,000 after buying an additional 112 shares during the period. Finally, Brighton Jones LLC acquired a new stake in Eli Lilly and Company during the first quarter valued at approximately $693,000. 75.49% of the stock is owned by hedge funds and other institutional investors.

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Several equities research analysts have commented on LLY shares. Piper Jaffray Companies restated a “buy” rating and set a $100.00 target price on shares of Eli Lilly and Company in a research report on Monday, April 17th. Credit Suisse Group restated a “buy” rating on shares of Eli Lilly and Company in a research report on Tuesday, March 21st. Argus lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and boosted their target price for the stock from $64.18 to $81.00 in a research report on Thursday, April 27th. They noted that the move was a valuation call. Sanford C. Bernstein restated an “outperform” rating and set a $88.00 target price on shares of Eli Lilly and Company in a research report on Sunday, May 21st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $92.00 price target on shares of Eli Lilly and Company in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Eli Lilly and Company presently has a consensus rating of “Hold” and an average target price of $87.59.

About Eli Lilly and Company

Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.

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