Eli Lilly and Company (NYSE:LLY) Shares Up 0.5% After Dividend Announcement

Shares of Eli Lilly and Company (NYSE:LLY) shot up 0.5% during trading on Monday following a dividend announcement from the company. The stock traded as high as $892.47 and last traded at $888.33. 453,131 shares were traded during trading, a decline of 85% from the average session volume of 2,928,219 shares. The stock had previously closed at $883.88.

The newly announced dividend which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analysts Set New Price Targets

LLY has been the subject of several research reports. Bank of America reissued a “buy” rating and issued a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday. Citigroup lifted their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. The Goldman Sachs Group raised their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, BMO Capital Markets boosted their price target on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $812.72.

Eli Lilly and Company Trading Down 0.1 %

The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $859.13 billion, a P/E ratio of 133.28, a PEG ratio of 1.94 and a beta of 0.36. The business has a 50 day moving average of $804.54 and a 200-day moving average of $734.18.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 789,704 shares of company stock valued at $672,385,964 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in Eli Lilly and Company during the fourth quarter worth approximately $5,992,890,000. International Assets Investment Management LLC increased its holdings in shares of Eli Lilly and Company by 61,268.8% during the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after acquiring an additional 7,330,815 shares during the last quarter. Swedbank AB bought a new stake in Eli Lilly and Company in the 1st quarter valued at $932,797,000. Sapient Capital LLC bought a new stake in Eli Lilly and Company in the 4th quarter valued at $682,139,000. Finally, Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

About Eli Lilly and Company

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.