Eli Lilly and Company (NYSE:LLY) Trading 1.7% Higher

Eli Lilly and Company (NYSE:LLY)’s share price traded up 1.7% during mid-day trading on Monday . The company traded as high as $965.89 and last traded at $964.29. 613,010 shares were traded during mid-day trading, a decline of 79% from the average session volume of 2,914,554 shares. The stock had previously closed at $948.40.

Wall Street Analysts Forecast Growth

LLY has been the subject of several research analyst reports. Berenberg Bank raised their target price on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group raised their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $858.72.

Eli Lilly and Company Stock Performance

The firm has a market capitalization of $906.93 billion, a P/E ratio of 142.02, a price-to-earnings-growth ratio of 2.07 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 business’s 50 day simple moving average is $849.46 and its two-hundred day simple moving average is $765.27.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates 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 was up 26.0% compared to the same quarter last year. During the same period last year, the business earned $1.62 EPS. Sell-side analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.54%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $5,992,890,000. International Assets Investment Management LLC increased its holdings in Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after buying an additional 7,330,815 shares during the last quarter. Swedbank AB purchased a new stake in Eli Lilly and Company during the first quarter valued at approximately $932,797,000. Sapient Capital LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $682,139,000. Finally, Vanguard Group Inc. increased its holdings in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.