Eli Lilly and Company (NYSE:LLY) Price Target Increased to $1,125.00 by Analysts at Bank of America

Eli Lilly and Company (NYSE:LLY) had its price objective hoisted by Bank of America from $1,000.00 to $1,125.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

LLY has been the topic of several other reports. Jefferies Financial Group upped their price target 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. Guggenheim upped their target price on Eli Lilly and Company from $855.00 to $884.00 and gave the company a buy rating in a report on Monday, August 5th. Argus increased their price target 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. JPMorgan Chase & Co. boosted 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 report on Thursday, July 11th. Finally, Barclays increased their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $916.53.

Eli Lilly and Company Trading Up 5.5 %

NYSE LLY traded up $46.37 on Friday, hitting $891.68. 6,587,628 shares of the stock were exchanged, compared to its average volume of 3,089,428. The company’s 50-day moving average price is $871.07 and its two-hundred day moving average price is $795.47. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $966.10. The company has a market capitalization of $847.46 billion, a price-to-earnings ratio of 131.32, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction 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 transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction 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 approximately $5,842,821.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is owned by insiders.

Institutional Trading of Eli Lilly and Company

A number of hedge funds have recently bought and sold shares of the stock. Everpar Advisors LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter worth about $1,845,000. International Assets Investment Management LLC lifted 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 purchasing an additional 632 shares during the last quarter. Kanawha Capital Management LLC grew its stake in 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 buying an additional 25 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $181,000. Finally, Financial Council Asset Management Inc boosted its holdings in shares of Eli Lilly and Company by 85.9% in the 4th quarter. Financial Council Asset Management Inc now owns 1,223 shares of the company’s stock worth $713,000 after acquiring an additional 565 shares in the last quarter. 82.53% of the stock is 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.