Eli Lilly and Company (NYSE:LLY) Shares Down 3.2%

Eli Lilly and Company (NYSE:LLY) shares dropped 3.2% during mid-day trading on Wednesday . The company traded as low as $905.25 and last traded at $911.92. Approximately 1,395,472 shares traded hands during trading, a decline of 52% from the average daily volume of 2,910,316 shares. The stock had previously closed at $941.60.

Analyst Ratings Changes

A number of analysts recently weighed in on LLY shares. Berenberg Bank boosted their target price on Eli Lilly and Company from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Barclays boosted their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Morgan Stanley restated an “overweight” rating and issued a $1,023.00 target price on shares of Eli Lilly and Company in a research report on Friday, July 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Finally, Bank of America restated a “buy” rating and issued a $1,000.00 target price on shares of Eli Lilly and Company in a research 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 stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $858.72.

Eli Lilly and Company Stock Up 2.2 %

The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The stock has a market capitalization of $824.77 billion, a PE ratio of 125.02, a PEG ratio of 1.98 and a beta of 0.41. The company has a 50 day moving average price of $860.56 and a 200-day moving average price of $771.88.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) 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 firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the firm earned $1.62 earnings per share. The business’s revenue was up 26.0% compared to the same quarter last year. As a group, analysts forecast that Eli Lilly and Company will post 13.71 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.60%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Johna Norton sold 7,056 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the 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 completion of the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,214,704 shares of company stock valued at $1,066,841,316 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

A number of institutional investors and hedge funds have recently bought and sold shares of LLY. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $26,000. Tidemark LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $29,000. Core Wealth Advisors Inc. grew 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 worth $29,000 after acquiring an additional 32 shares during the period. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the second quarter worth approximately $32,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $37,000. 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.