Eli Lilly and Company (NYSE:LLY) Stock Price Up 0.1% After Dividend Announcement

Eli Lilly and Company (NYSE:LLY) shares rose 0.1% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $895.88 and last traded at $893.64. Approximately 576,701 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,947,208 shares. The stock had previously closed at $892.70.

The newly announced dividend which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s payout ratio is presently 76.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America increased their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup raised their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays boosted their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.41.

Eli Lilly and Company Stock Up 0.9 %

The stock has a market capitalization of $859.21 billion, a P/E ratio of 133.14, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The stock has a fifty day moving average price of $918.30 and a 200 day moving average price of $865.23.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. On average, research analysts forecast that Eli Lilly and Company will post 14.05 earnings per share for the current year.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds have recently bought and sold shares of the company. M&G Plc bought a new position in shares of Eli Lilly and Company in the first quarter worth $8,896,000. Virtu Financial LLC purchased a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $2,138,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Eli Lilly and Company by 19.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after acquiring an additional 1,620 shares during the last quarter. Mutual Advisors LLC grew its holdings in shares of Eli Lilly and Company by 404.8% during the first quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after purchasing an additional 50,197 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Eli Lilly and Company by 0.6% in the first quarter. Private Advisor Group LLC now owns 76,282 shares of the company’s stock worth $59,345,000 after purchasing an additional 430 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.