Eli Lilly and Company (LLY) To Go Ex-Dividend on February 14th

Eli Lilly and Company (NYSE:LLY) declared a quarterly dividend on Monday, December 9th,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 1.50 per share on Monday, March 10th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30.

Eli Lilly and Company has raised its dividend payment by an average of 15.2% per year over the last three years and has raised its dividend every year for the last 11 years. Eli Lilly and Company has a dividend payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eli Lilly and Company to earn $31.09 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 19.3%.

Eli Lilly and Company Stock Down 0.4 %

Eli Lilly and Company stock opened at $865.13 on Wednesday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The firm has a market capitalization of $821.28 billion, a price-to-earnings ratio of 73.88, a P/E/G ratio of 1.87 and a beta of 0.42. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a 50 day simple moving average of $791.24 and a 200 day simple moving average of $843.52.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company declared that its board has approved a share repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.