Eli Lilly and Company (NYSE:LLY) Shares Up 1.3%

Eli Lilly and Company (NYSE:LLY) traded up 1.3% during trading on Tuesday . The company traded as high as $972.48 and last traded at $962.95. 1,300,075 shares were traded during trading, a decline of 58% from the average session volume of 3,079,248 shares. The stock had previously closed at $950.53.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group upped their price target 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. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. BMO Capital Markets upped their price objective on 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. JPMorgan Chase & Co. lifted 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 note on Thursday, July 11th. Finally, Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Price Performance

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The company has a market capitalization of $907.14 billion, a P/E ratio of 140.57, a P/E/G ratio of 1.81 and a beta of 0.41. The firm’s fifty day moving average is $887.63 and its 200 day moving average is $816.72.

Eli Lilly and Company Announces Dividend

The firm 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 $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.54%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 22,206 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $822.11, for a total value of $18,255,774.66. Following the transaction, the insider now directly owns 98,401,604 shares in the company, valued at $80,896,942,664.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 22,206 shares of Eli Lilly and Company stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $822.11, for a total value of $18,255,774.66. Following the completion of the sale, the insider now owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The disclosure for this sale can be found here. Insiders sold a total of 1,120,089 shares of company stock worth $990,278,343 in the last quarter. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth $29,000. Core Wealth Advisors Inc. lifted its position in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.