Cantor Fitzgerald Reaffirms “Overweight” Rating for Eli Lilly and Company (NYSE:LLY)

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

Other equities analysts have also issued research reports about the stock. BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Erste Group Bank upgraded shares of Eli Lilly and Company from a hold rating to a buy rating in a report on Wednesday, April 3rd. Bank of America reiterated a buy rating and issued a $1,000.00 price target on shares of Eli Lilly and Company in a report on Monday, June 24th. Argus lifted their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a buy rating in a report on Tuesday, May 14th. Finally, TheStreet upgraded shares of Eli Lilly and Company from a c+ rating to a b rating in a report on Friday, March 8th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $812.72.

Eli Lilly and Company Stock Down 0.9 %

LLY stock opened at $898.10 on Monday. The stock has a market capitalization of $853.56 billion, a P/E ratio of 132.27, a PEG ratio of 1.97 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 one year low of $434.34 and a one year high of $918.50. The company has a 50 day moving average price of $821.29 and a two-hundred day moving average price of $745.62.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 97,583,810 shares of the company’s stock, valued at approximately $86,450,473,117.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 858,742 shares of company stock valued at $735,573,781 in the last quarter. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

A number of institutional investors have recently made changes to their positions in LLY. Alps Advisors Inc. lifted its stake in shares of Eli Lilly and Company by 86.8% in the 3rd quarter. Alps Advisors Inc. now owns 33,288 shares of the company’s stock worth $17,880,000 after acquiring an additional 15,471 shares during the period. Elevatus Welath Management acquired a new stake in Eli Lilly and Company during the third quarter valued at approximately $371,000. EHP Funds Inc. acquired a new stake in Eli Lilly and Company during the third quarter valued at approximately $269,000. Legacy Advisors LLC lifted its stake in Eli Lilly and Company by 14.7% during the third quarter. Legacy Advisors LLC now owns 2,045 shares of the company’s stock valued at $1,098,000 after purchasing an additional 262 shares during the last quarter. Finally, Lakeshore Financial Planning Inc. acquired a new stake in Eli Lilly and Company during the third quarter valued at approximately $263,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.