Eli Lilly and Company (NYSE:LLY) Shares Up 1.5% After Dividend Announcement

Shares of Eli Lilly and Company (NYSE:LLY) shot up 1.5% during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $903.69 and last traded at $903.60. 835,047 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 2,929,958 shares. The stock had previously closed at $890.11.

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

Analyst Ratings Changes

Several research firms recently weighed in on LLY. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday. The Goldman Sachs Group upped their price objective 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. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $812.72.

Eli Lilly and Company Price Performance

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a market cap of $856.57 billion, a PE ratio of 132.73, a PEG ratio of 1.97 and a beta of 0.36. The stock’s 50-day moving average is $804.54 and its two-hundred day moving average is $734.18.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. On average, equities analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares in the company, valued at approximately $88,033,404,445.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock in a transaction on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares in the company, valued at approximately $88,033,404,445.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold a total of 789,704 shares of company stock worth $672,385,964 in the last ninety days. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lipe & Dalton purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $26,000. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $29,000. Core Wealth Advisors Inc. lifted its stake in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC lifted its stake in shares of Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after purchasing an additional 37 shares during the period. 82.53% of the stock is owned by hedge funds and other 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.