Eli Lilly and Company (NYSE:LLY) Announces Quarterly Dividend of $0.98

Eli Lilly and Company (NYSE:LLY – Get Rating) announced a quarterly dividend on Monday, May 2nd, RTT News reports. Investors of record on Monday, May 16th will be paid a dividend of 0.98 per share on Friday, June 10th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.35%.

Eli Lilly and has increased its dividend by an average of 14.8% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Eli Lilly and has a dividend payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eli Lilly and to earn $9.69 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 40.5%.

Shares of LLY traded down $7.71 on Monday, reaching $289.56. 113,799 shares of the company’s stock traded hands, compared to its average volume of 2,932,719. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 1.68. The stock has a market cap of $275.76 billion, a PE ratio of 42.74, a PEG ratio of 2.31 and a beta of 0.43. The stock’s 50 day simple moving average is $281.25 and its two-hundred day simple moving average is $263.33. Eli Lilly and has a 52-week low of $181.19 and a 52-week high of $314.00.

Eli Lilly and (NYSE:LLY – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $2.62 EPS for the quarter, beating the Zacks’ consensus estimate of $2.32 by $0.30. The company had revenue of $7.81 billion during the quarter, compared to the consensus estimate of $7.29 billion. Eli Lilly and had a return on equity of 102.32% and a net margin of 20.90%. Eli Lilly and’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the business posted $1.87 earnings per share. Analysts forecast that Eli Lilly and will post 8.41 earnings per share for the current year.

In other news, SVP Ilya Yuffa sold 1,000 shares of Eli Lilly and stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $237.45, for a total value of $237,450.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Marschall S. Runge acquired 202 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The stock was bought at an average price of $246.78 per share, for a total transaction of $49,849.56. The disclosure for this purchase can be found here. Insiders have sold 1,088,551 shares of company stock worth $307,943,730 in the last 90 days. Company insiders own 0.12% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Community Trust NA bought a new stake in shares of Eli Lilly and in the fourth quarter worth about $29,000. Ulland Investment Advisors LLC bought a new stake in shares of Eli Lilly and in the fourth quarter worth about $55,000. SkyView Investment Advisors LLC bought a new stake in shares of Eli Lilly and in the fourth quarter worth about $208,000. Paradigm Financial Partners LLC bought a new stake in shares of Eli Lilly and in the fourth quarter worth about $237,000. Finally, Zullo Investment Group Inc. bought a new stake in shares of Eli Lilly and in the fourth quarter worth about $295,000. 82.75% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on LLY. Sanford C. Bernstein increased their price objective on Eli Lilly and from $250.00 to $300.00 and gave the company a “market perform” rating in a report on Monday, January 3rd. Wells Fargo & Company raised their price target on Eli Lilly and from $280.00 to $305.00 in a report on Friday. Morgan Stanley raised their price target on Eli Lilly and from $364.00 to $369.00 in a report on Friday. Daiwa Capital Markets began coverage on Eli Lilly and in a report on Thursday, March 10th. They issued an “outperform” rating and a $286.00 price target for the company. Finally, DZ Bank raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a report on Friday, January 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $302.56.

About Eli Lilly and (Get Rating)

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.

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