Eli Lilly and Company (NYSE:LLY) Trading 1% Higher

Eli Lilly and Company (NYSE:LLY)’s stock price rose 1% on Thursday . The stock traded as high as $934.07 and last traded at $930.43. Approximately 691,739 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,037,607 shares. The stock had previously closed at $920.89.

Wall Street Analyst Weigh In

LLY has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday. Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Berenberg Bank increased their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Price Performance

The stock has a market cap of $877.92 billion, a price-to-earnings ratio of 136.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The stock has a fifty day moving average of $897.12 and a two-hundred day moving average of $832.88. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. On average, equities research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total value of $8,729,721.57. Following the sale, the insider now owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 646,878 shares of company stock valued at $591,465,138 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tidemark LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $29,000. Core Wealth Advisors Inc. lifted its stake in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the second quarter valued at $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $37,000. Institutional investors and hedge funds 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.