Guggenheim Boosts Eli Lilly and Company (NYSE:LLY) Price Target to $1,030.00

Eli Lilly and Company (NYSE:LLY) had its target price boosted by Guggenheim from $884.00 to $1,030.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently weighed in on LLY. Morgan Stanley reaffirmed an overweight rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. Bank of America increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a buy rating in a research note on Friday, August 9th. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an overweight rating in a research note on Friday, August 9th. BMO Capital Markets increased their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an outperform rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price target 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. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $956.88.

Eli Lilly and Company Price Performance

Shares of LLY opened at $921.81 on Friday. The business’s 50-day moving average is $880.04 and its two-hundred day moving average is $808.13. The company has a market capitalization of $876.09 billion, a P/E ratio of 135.76, 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 quick ratio of 1.03 and a current ratio of 1.35. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $966.10.

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 issued a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred 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 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. Insiders sold 1,214,704 shares of company stock worth $1,066,841,316 in the last 90 days. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently made changes to their positions in LLY. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $29,000. Core Wealth Advisors Inc. increased its position in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $37,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.