Eli Lilly and Company (NYSE:LLY) Trading 3.6% Higher

Eli Lilly and Company (NYSE:LLY) shares were up 3.6% during trading on Tuesday . The company traded as high as $967.00 and last traded at $955.17. Approximately 2,664,404 shares were traded during trading, a decline of 14% from the average daily volume of 3,089,983 shares. The stock had previously closed at $921.81.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Bank of America boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Morgan Stanley restated an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a report on Friday, July 5th. Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. boosted their target price on 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. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $956.88.

Eli Lilly and Company Stock Performance

The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $901.96 billion, a PE ratio of 140.67, a PEG ratio of 1.81 and a beta of 0.41. The company has a 50-day moving average price of $880.04 and a two-hundred day moving average price of $808.13.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s 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 completion of the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Large investors have recently modified their holdings of the company. Everpar Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $1,845,000. International Assets Investment Management LLC boosted 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. Tennessee Valley Asset Management Partners bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $181,000. AMJ Financial Wealth Management purchased a new position in Eli Lilly and Company in the 4th quarter worth approximately $201,000. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. lifted its position in Eli Lilly and Company by 124.7% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,438 shares of the company’s stock valued at $838,000 after purchasing an additional 798 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other 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.