Eli Lilly And Co (NYSE:LLY) declared a quarterly dividend on Monday, October 15th, RTT News reports. Stockholders of record on Thursday, November 15th will be given a dividend of 0.5625 per share on Monday, December 10th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, November 14th.
Eli Lilly And Co has raised its dividend payment by an average of 2.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Eli Lilly And Co has a dividend payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Eli Lilly And Co to earn $5.79 per share next year, which means the company should continue to be able to cover its $2.25 annual dividend with an expected future payout ratio of 38.9%.
Eli Lilly And Co stock opened at $110.10 on Friday. Eli Lilly And Co has a twelve month low of $73.69 and a twelve month high of $116.61. The company has a market cap of $113.74 billion, a PE ratio of 25.72, a P/E/G ratio of 1.69 and a beta of 0.29. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 0.79.
A number of analysts recently commented on the stock. Credit Suisse Group upgraded shares of Eli Lilly And Co from an “underperform” rating to a “neutral” rating in a research note on Wednesday, October 31st. ValuEngine cut shares of Eli Lilly And Co from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. set a $123.00 price target on shares of Eli Lilly And Co and gave the company a “buy” rating in a research note on Friday, October 5th. Bank of America upped their price target on shares of Eli Lilly And Co from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Finally, Cantor Fitzgerald set a $100.00 price target on shares of Eli Lilly And Co and gave the company a “buy” rating in a research note on Tuesday, July 24th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $111.19.
In other Eli Lilly And Co news, major shareholder Eli & Co Lilly sold 700,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $14.00, for a total value of $9,800,000.00. Following the sale, the insider now directly owns 3,148,647 shares in the company, valued at approximately $44,081,058. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 151,793 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $103.23, for a total transaction of $15,669,591.39. Following the completion of the sale, the insider now owns 120,555,804 shares in the company, valued at $12,444,975,646.92. The disclosure for this sale can be found here. Insiders sold a total of 1,881,684 shares of company stock worth $133,274,076 over the last quarter. Corporate insiders own 0.11% of the company’s stock.
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About Eli Lilly And Co
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates through two segments, Human Pharmaceutical Products and Animal Health Products. It offers endocrinology products for the treatment of diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and pediatric growth conditions.
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