Eli Lilly and Company (NYSE:LLY) Stock Price Up 2.9%

Shares of Eli Lilly and Company (NYSE:LLY) traded up 2.9% on Thursday . The company traded as high as $840.89 and last traded at $827.23. 1,282,662 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 2,979,362 shares. The stock had previously closed at $804.27.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Argus increased their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Wednesday, July 24th. Jefferies Financial Group raised their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, The Goldman Sachs Group raised their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. 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 MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $858.72.

Eli Lilly and Company Price Performance

The company has a market cap of $764.57 billion, a PE ratio of 118.48, a price-to-earnings-growth 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. The stock has a 50 day moving average of $870.80 and a 200-day moving average of $787.85.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. Equities analysts predict that Eli Lilly and Company will post 13.79 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.65%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. 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.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently modified their holdings of the business. First Business Financial Services Inc. grew its position in shares of Eli Lilly and Company by 4.5% during the 2nd quarter. First Business Financial Services Inc. now owns 5,538 shares of the company’s stock valued at $5,014,000 after acquiring an additional 236 shares during the period. Foster & Motley Inc. boosted its holdings in Eli Lilly and Company by 4.5% in the 2nd quarter. Foster & Motley Inc. now owns 1,122 shares of the company’s stock worth $1,016,000 after buying an additional 48 shares during the last quarter. Impact Partnership Wealth LLC boosted its holdings in Eli Lilly and Company by 91.9% in the 2nd quarter. Impact Partnership Wealth LLC now owns 881 shares of the company’s stock worth $798,000 after buying an additional 422 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Eli Lilly and Company by 1.7% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,302 shares of the company’s stock worth $2,990,000 after buying an additional 56 shares during the last quarter. Finally, Mayflower Financial Advisors LLC boosted its holdings in Eli Lilly and Company by 2.2% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 3,098 shares of the company’s stock worth $2,805,000 after buying an additional 66 shares during the last quarter. 82.53% of the stock is currently 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.