Eli Lilly and Company (NYSE:LLY) Trading Up 0.8% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY)’s stock price traded up 0.8% during mid-day trading on Thursday . The company traded as high as $790.45 and last traded at $782.64. 1,332,820 shares traded hands during trading, a decline of 57% from the average session volume of 3,079,240 shares. The stock had previously closed at $776.38.

Analysts Set New Price Targets

Several brokerages recently commented on LLY. Bank of America reduced their price target on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Citigroup increased their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Truist Financial upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

Eli Lilly and Company Price Performance

The company has a market cap of $759.92 billion, a P/E ratio of 84.61, a P/E/G ratio of 3.05 and a beta of 0.43. The stock has a 50-day simple moving average of $901.75 and a 200 day simple moving average of $867.32. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts expect that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.65%. Eli Lilly and Company’s payout ratio is 56.22%.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of 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 worth $56,592,709,000 after buying an additional 1,133,810 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the period. Capital Research Global Investors boosted its position in shares of Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after purchasing an additional 453,939 shares during the last quarter. Capital International Investors grew its stake in shares of Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after purchasing an additional 335,560 shares during the period. Finally, GQG Partners LLC increased its holdings in Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Company Profile

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.