Eli Lilly and Company (NYSE:LLY) Plans Dividend Increase – $1.30 Per Share

Eli Lilly and Company (NYSE:LLYGet Free Report) announced a quarterly dividend on Friday, December 8th, RTT News reports. Investors of record on Thursday, February 15th will be paid a dividend of 1.30 per share on Friday, March 8th. This represents a $5.20 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.13.

Eli Lilly and Company has increased its dividend payment by an average of 15.2% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Eli Lilly and Company has a dividend payout ratio of 30.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eli Lilly and Company to earn $17.87 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 29.1%.

Eli Lilly and Company Stock Up 0.6 %

Shares of NYSE:LLY opened at $740.16 on Monday. The company has a market capitalization of $702.64 billion, a PE ratio of 127.61, a price-to-earnings-growth ratio of 2.08 and a beta of 0.32. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.05 and a quick ratio of 0.82. The business has a fifty day moving average price of $620.02 and a two-hundred day moving average price of $581.92. Eli Lilly and Company has a 1 year low of $309.20 and a 1 year high of $745.70.

Eli Lilly and Company (NYSE:LLYGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. The firm had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a return on equity of 50.78% and a net margin of 15.36%. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 EPS. Analysts forecast that Eli Lilly and Company will post 12.52 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 1,180 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $645.60, for a total transaction of $761,808.00. Following the sale, the insider now owns 99,542,630 shares of the company’s stock, valued at approximately $64,264,721,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 195,055 shares of company stock valued at $125,254,657. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth about $2,408,000. Imprint Wealth LLC increased its stake in Eli Lilly and Company by 9.4% in the 2nd quarter. Imprint Wealth LLC now owns 3,559 shares of the company’s stock worth $1,751,000 after acquiring an additional 305 shares during the last quarter. Wambolt & Associates LLC increased its stake in Eli Lilly and Company by 1.9% in the 2nd quarter. Wambolt & Associates LLC now owns 1,375 shares of the company’s stock worth $645,000 after acquiring an additional 25 shares during the last quarter. Resources Management Corp CT ADV increased its position in shares of Eli Lilly and Company by 400.4% during the 2nd quarter. Resources Management Corp CT ADV now owns 1,161 shares of the company’s stock valued at $544,000 after purchasing an additional 929 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at about $79,000. 81.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on LLY. BMO Capital Markets upped their price objective on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Morgan Stanley upped their price objective on Eli Lilly and Company from $763.00 to $805.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. UBS Group reaffirmed a “buy” rating and set a $710.00 price target (up previously from $612.00) on shares of Eli Lilly and Company in a research report on Friday, October 20th. Citigroup upped their price target on Eli Lilly and Company from $525.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Eli Lilly and Company in a research report on Thursday, November 9th. They set a “hold” rating and a $535.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $621.81.

Read Our Latest Stock Report on Eli Lilly and Company

About Eli Lilly and Company

(Get Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

Further Reading

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

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