Eli Lilly and Company’s (LLY) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a research note released on Monday morning, Benzinga reports. They currently have a $885.00 target price on the stock.

LLY has been the topic of a number of other research reports. Bank of America increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a buy rating in a report on Friday, August 9th. Berenberg Bank boosted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. Barclays increased their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an outperform rating in a research report on Friday, August 9th. Finally, Guggenheim raised their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a buy rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $961.76.

Eli Lilly and Company Stock Up 2.2 %

Shares of NYSE:LLY opened at $920.89 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock has a fifty day simple moving average of $896.20 and a two-hundred day simple moving average of $831.11. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The stock has a market capitalization of $875.22 billion, a price-to-earnings ratio of 135.62, a PEG ratio of 2.73 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, research analysts anticipate that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was 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 payout ratio is currently 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 194,978 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the sale, the insider now owns 97,583,810 shares in the company, valued at approximately $86,450,473,117.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 661,900 shares of company stock worth $604,721,602. 0.13% of the stock is owned by company insiders.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently modified their holdings of LLY. Tidemark LLC bought a new position in Eli Lilly and Company in the 4th quarter worth $29,000. Core Wealth Advisors Inc. boosted its stake in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the period. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $37,000. 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.