Eli Lilly and Company (NYSE:LLY) Price Target Increased to $1,000.00 by Analysts at Wells Fargo & Company

Eli Lilly and Company (NYSE:LLY) had its price objective hoisted by Wells Fargo & Company from $875.00 to $1,000.00 in a report issued on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on the stock. Argus lifted their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a buy rating in a research report on Tuesday, May 14th. Berenberg Bank increased their price target on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a buy rating in a report on Thursday, July 11th. JPMorgan Chase & Co. raised their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. Jefferies Financial Group upped their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a buy rating in a research report on Monday, June 24th. Finally, Truist Financial reissued a buy rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $916.53.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $46.37 during mid-day trading on Friday, reaching $891.68. The company’s stock had a trading volume of 6,587,628 shares, compared to its average volume of 3,089,428. 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 has a 1-year low of $516.57 and a 1-year high of $966.10. The business has a 50-day simple moving average of $871.07 and a two-hundred day simple moving average of $795.47. The stock has a market cap of $847.46 billion, a P/E ratio of 131.32, a PEG ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 750 shares of the business’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 completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the transaction, the insider now owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,214,704 shares of company stock worth $1,066,841,316. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

A number of large investors have recently bought and sold shares of LLY. Everpar Advisors LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $1,845,000. International Assets Investment Management LLC raised its holdings in Eli Lilly and Company by 5.3% during the 4th quarter. International Assets Investment Management LLC now owns 12,597 shares of the company’s stock valued at $7,343,000 after acquiring an additional 632 shares during the period. Kanawha Capital Management LLC lifted its position in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Kanawha Capital Management LLC now owns 1,275 shares of the company’s stock worth $743,000 after acquiring an additional 25 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Eli Lilly and Company in the fourth quarter worth $181,000. Finally, Financial Council Asset Management Inc grew its position in shares of Eli Lilly and Company by 85.9% in the fourth quarter. Financial Council Asset Management Inc now owns 1,223 shares of the company’s stock valued at $713,000 after purchasing an additional 565 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.