Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.4% Following Dividend Announcement

Eli Lilly and Company (NYSE:LLYGet Free Report) shares rose 1.4% on Monday after the company announced a dividend. The company traded as high as $793.21 and last traded at $773.42. Approximately 1,097,118 shares changed hands during trading, a decline of 70% from the average daily volume of 3,658,616 shares. The stock had previously closed at $762.73.

The newly announced dividend which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several research analyst reports. UBS Group cut their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $936.00 price objective on shares of Eli Lilly and Company in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.79.

Read Our Latest Research Report on LLY

Eli Lilly and Company Trading Up 1.0%

The firm’s 50-day moving average price is $780.81 and its 200-day moving average price is $800.36. 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 company has a market cap of $729.91 billion, a P/E ratio of 62.67, a price-to-earnings-growth ratio of 1.11 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLYGet Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 85.51% and a net margin of 22.67%. The business’s revenue was up 45.2% on a year-over-year basis. During the same period last year, the company posted $2.58 EPS. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in shares of Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares in the last quarter. Vanguard Group Inc. boosted its position in Eli Lilly and Company by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock valued at $65,432,218,000 after buying an additional 4,975,395 shares during the period. Geode Capital Management LLC boosted its position in Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after buying an additional 291,875 shares during the period. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after buying an additional 14,852,076 shares during the period. Finally, Wellington Management Group LLP boosted its position in Eli Lilly and Company by 0.6% during the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock valued at $10,495,261,000 after buying an additional 81,587 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Company Profile

(Get Free Report)

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.

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