Eli Lilly and Company (NYSE:LLY) Stock Price Up 2.2%

Eli Lilly and Company (NYSE:LLY) shot up 2.2% during mid-day trading on Tuesday . The stock traded as high as $914.69 and last traded at $903.75. 1,238,657 shares were traded during trading, a decline of 60% from the average session volume of 3,085,381 shares. The stock had previously closed at $884.38.

Analyst Ratings Changes

A number of research analysts have commented on the company. Jefferies Financial Group increased their price objective 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. Truist Financial restated a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. JPMorgan Chase & Co. upped 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. Argus increased their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Guggenheim increased their price objective on shares of Eli Lilly and Company from $855.00 to $884.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $945.35.

Eli Lilly and Company Price Performance

The stock has a market cap of $861.87 billion, a PE ratio of 133.10, a P/E/G ratio of 1.81 and a beta of 0.41. 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 firm’s 50 day moving average price is $872.13 and its two-hundred day moving average price is $798.42.

Eli Lilly and Company Dividend Announcement

The business 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. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction on Tuesday, May 28th. The shares were 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 directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Over the last quarter, 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 Inflows and Outflows

Several institutional investors have recently modified their holdings of LLY. Norges Bank purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth $5,992,890,000. Swedbank AB purchased a new stake in Eli Lilly and Company during the first quarter worth $932,797,000. Sapient Capital LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth $682,139,000. Vanguard Group Inc. grew its position in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Finally, Wulff Hansen & CO. grew its stake in shares of Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after buying an additional 936,033 shares during the period. 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.