Eli Lilly and Company (NYSE:LLY) Trading 0.6% Higher

Eli Lilly and Company (NYSE:LLY) shares traded up 0.6% on Wednesday . The company traded as high as $939.98 and last traded at $938.45. 641,582 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 2,921,544 shares. The stock had previously closed at $932.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Citigroup lifted their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, July 1st. The Goldman Sachs Group raised their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $1,023.00 target price on shares of Eli Lilly and Company in a report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $816.78.

Eli Lilly and Company Trading Up 1.4 %

The stock has a market cap of $898.23 billion, a P/E ratio of 138.21, a PEG ratio of 2.00 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock’s fifty day moving average price is $838.34 and its 200 day moving average price is $757.52.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The company’s quarterly revenue was up 26.0% on a year-over-year basis. Equities research analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 93,593 shares of Eli Lilly and Company stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $918.64, for a total value of $85,978,273.52. Following the completion of the transaction, the insider now owns 97,153,810 shares of the company’s stock, valued at approximately $89,249,376,018.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Lilly Endowment Inc sold 93,593 shares of Eli Lilly and Company stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $918.64, for a total value of $85,978,273.52. Following the completion of the transaction, the insider now owns 97,153,810 shares of the company’s stock, valued at approximately $89,249,376,018.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 1,004,704 shares of company stock valued at $869,479,116 in the last quarter. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds have recently bought and sold shares of the business. Lynx Investment Advisory purchased a new position in Eli Lilly and Company in the 2nd quarter worth about $32,000. Lipe & Dalton purchased a new position in Eli Lilly and Company in the 4th quarter worth about $26,000. Core Wealth Advisors Inc. raised its position in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the last quarter. Activest Wealth Management purchased a new position in Eli Lilly and Company in the 1st quarter worth about $39,000. Finally, Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors 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.