Eli Lilly and Company (NYSE:LLY) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a report published on Wednesday, Benzinga reports. Cantor Fitzgerald currently has a $885.00 price target on the stock.

A number of other research analysts have also commented on LLY. The Goldman Sachs Group raised 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. Barclays raised their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Bank of America reiterated a buy rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research note on Monday, June 24th. JPMorgan Chase & Co. raised their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an overweight rating in a research note on Thursday, July 11th. Finally, Erste Group Bank upgraded shares of Eli Lilly and Company from a hold rating to a buy rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of Moderate Buy and an average target price of $858.72.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $804.62 on Wednesday. The firm’s 50 day moving average is $870.13 and its two-hundred day moving average is $782.95. Eli Lilly and Company has a 52 week low of $446.89 and a 52 week high of $966.10. The firm has a market capitalization of $764.72 billion, a P/E ratio of 118.50, a PEG ratio of 1.75 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter last year, the business earned $1.62 earnings per share. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. Analysts anticipate that Eli Lilly and Company will post 13.79 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Capital World Investors lifted its position in Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after buying an additional 89,720 shares in the last quarter. Norges Bank bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at $5,992,890,000. Capital Research Global Investors raised its holdings in shares of Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Eli Lilly and Company by 61,268.8% during the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Company Profile

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.