Eli Lilly and Company (NYSE:LLY) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a research note published on Monday morning, Benzinga reports. They currently have a $885.00 target price on the stock.

A number of other research firms have also recently commented on LLY. Truist Financial reissued a buy rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Bank of America upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a buy rating in a research report on Friday, August 9th. BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an outperform rating in a report on Friday, August 9th. Morgan Stanley reissued an overweight rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Finally, Argus lifted their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a buy rating in a report on Tuesday, May 14th. 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.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $961.76.

Eli Lilly and Company Price Performance

NYSE LLY opened at $935.09 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The stock has a market cap of $888.71 billion, a price-to-earnings ratio of 137.72, a PEG ratio of 2.73 and a beta of 0.42. The company’s 50 day moving average is $896.94 and its two-hundred day moving average is $831.83.

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, beating the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, research analysts anticipate that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 9,671 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total value of $8,729,721.57. Following the transaction, the insider now owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 646,878 shares of company stock valued at $591,465,138. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several institutional investors and hedge funds have recently modified their holdings of the stock. Independent Advisor Alliance lifted its holdings in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares during the period. Apexium Financial LP increased its position in Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after purchasing an additional 10,842 shares during the period. Capital Planning LLC bought a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $262,000. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $6,916,000. Finally, M&G Plc bought a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $8,896,000. 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.