Eli Lilly And Co (LLY) Plans Dividend Increase – $0.65 Per Share

Eli Lilly And Co (NYSE:LLY) declared a quarterly dividend on Wednesday, December 19th, RTT News reports. Stockholders of record on Friday, February 15th will be paid a dividend of 0.645 per share on Friday, March 8th. This represents a $2.58 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, February 14th. This is an increase from Eli Lilly And Co’s previous quarterly dividend of $0.56.

Eli Lilly And Co has raised its dividend by an average of 4.0% per year over the last three years and has raised its dividend every year for the last 4 years. Eli Lilly And Co has a dividend payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eli Lilly And Co to earn $6.35 per share next year, which means the company should continue to be able to cover its $2.58 annual dividend with an expected future payout ratio of 40.6%.

Shares of LLY opened at $119.60 on Friday. The company has a market capitalization of $124.47 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 1.87 and a beta of 0.37. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.53 and a current ratio of 1.91. Eli Lilly And Co has a 12-month low of $73.69 and a 12-month high of $121.84.

Eli Lilly And Co (NYSE:LLY) last announced its quarterly earnings data on Wednesday, February 6th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.28 billion. Eli Lilly And Co had a return on equity of 42.55% and a net margin of 13.16%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. As a group, research analysts forecast that Eli Lilly And Co will post 5.63 EPS for the current fiscal year.

In other news, major shareholder Lilly Endowment Inc sold 15,500 shares of Eli Lilly And Co stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $119.00, for a total value of $1,844,500.00. Following the transaction, the insider now directly owns 118,015,304 shares of the company’s stock, valued at $14,043,821,176. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Alfonso G. Zulueta sold 4,000 shares of Eli Lilly And Co stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $120.00, for a total transaction of $480,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,020,383 shares of company stock worth $117,579,574. 0.11% of the stock is currently owned by insiders.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Eli Lilly And Co from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Barclays lifted their price objective on shares of Eli Lilly And Co from $112.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, October 12th. UBS Group reaffirmed an “average” rating and issued a $100.00 price objective (down previously from $107.53) on shares of Eli Lilly And Co in a research note on Friday. ValuEngine raised shares of Eli Lilly And Co from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. Finally, Citigroup cut shares of Eli Lilly And Co from a “buy” rating to a “neutral” rating and set a $115.00 price objective on the stock. in a research note on Monday, November 26th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $111.41.

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Eli Lilly And Co Company Profile

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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Dividend History for Eli Lilly And Co (NYSE:LLY)

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