Eli Lilly and Company (NYSE:LLY) Shares Down 0.2%

Eli Lilly and Company (NYSE:LLY)’s share price dropped 0.2% during trading on Tuesday . The stock traded as low as $904.55 and last traded at $906.53. Approximately 426,719 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,044,267 shares. The stock had previously closed at $908.27.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LLY. Bank of America lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Barclays boosted their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Jefferies Financial Group raised their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. Finally, Guggenheim increased their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Price Performance

The company 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. 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 company has a 50 day moving average price of $896.20 and a 200 day moving average price of $831.11.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping 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 firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. As a group, equities research analysts forecast that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 661,900 shares of company stock valued at $604,721,602 in the last 90 days. 0.13% of the stock is owned by company insiders.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently added to or reduced their stakes in LLY. Tidemark LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. boosted its holdings 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 valued at $29,000 after buying an additional 32 shares during the period. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the second quarter worth $36,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company in the 4th 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.