Eli Lilly and Company (NYSE:LLY) Trading 0.8% Higher

Eli Lilly and Company (NYSE:LLY) shares rose 0.8% on Monday . The stock traded as high as $915.79 and last traded at $912.20. Approximately 918,798 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 2,921,003 shares. The stock had previously closed at $905.38.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LLY shares. BMO Capital Markets raised their price objective on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Citigroup upped their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Truist Financial reiterated a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Finally, Jefferies Financial Group lifted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

Eli Lilly and Company Stock Up 1.0 %

The firm’s 50 day moving average price is $814.40 and its two-hundred day moving average price is $740.86. The firm has a market capitalization of $869.04 billion, a PE ratio of 134.76, a P/E/G ratio of 1.97 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period last year, the firm earned $1.62 earnings per share. The company’s revenue was up 26.0% on a year-over-year basis. As a group, research analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the sale, the insider now directly owns 97,574,139 shares of the company’s stock, valued at $88,077,248,051.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the completion of the transaction, the insider now directly owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The disclosure for this sale can be found here. In the last three months, insiders sold 789,704 shares of company stock worth $672,385,964. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LLY. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at $26,000. Core Wealth Advisors Inc. increased its stake in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the period. Activest Wealth Management bought a new stake in shares of Eli Lilly and Company during the 1st quarter worth about $39,000. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $40,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.