Eli Lilly and Company (NYSE:LLY) Trading Up 0% After Analyst Upgrade

Eli Lilly and Company (NYSE:LLY)’s share price shot up 0% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,050.00 to $1,100.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Eli Lilly and Company traded as high as $932.40 and last traded at $923.80. 344,380 shares were traded during trading, a decline of 89% from the average session volume of 3,027,126 shares. The stock had previously closed at $923.71.

Several other research analysts also recently commented on the stock. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Jefferies Financial Group boosted their price target on shares of 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. Barclays upped 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 research report on Wednesday, July 10th. 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. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the completion of the sale, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 451,900 shares of company stock valued at $418,732,178. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds have recently made changes to their positions in LLY. Twelve Points Wealth Management LLC lifted its position in Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after buying an additional 11 shares during the period. Verum Partners LLC lifted its position in Eli Lilly and Company by 1.5% during the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after acquiring an additional 11 shares during the period. Beaird Harris Wealth Management LLC lifted its position in Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after acquiring an additional 11 shares during the period. Acorn Creek Capital LLC boosted its stake in Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after acquiring an additional 12 shares in the last quarter. Finally, Thompson Davis & CO. Inc. grew its holdings in Eli Lilly and Company by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Up 0.0 %

The stock’s 50 day simple moving average is $897.12 and its two-hundred day simple moving average is $833.89. The firm has a market cap of $877.98 billion, a P/E ratio of 136.05, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, research analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

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.