Eli Lilly and Company (NYSE:LLY) Shares Up 0.8%

Eli Lilly and Company (NYSE:LLY) shares were up 0.8% during trading on Monday . The company traded as high as $915.79 and last traded at $912.20. Approximately 918,798 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 2,921,003 shares. The stock had previously closed at $905.38.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Citigroup upped their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. BMO Capital Markets raised their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Finally, The Goldman Sachs Group increased their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

Eli Lilly and Company Trading Up 1.0 %

The company has a market cap of $869.04 billion, a P/E ratio of 134.76, a P/E/G ratio of 1.97 and a beta of 0.41. The business’s 50-day moving average price is $814.40 and its 200 day moving average price is $740.86. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. As a group, analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Johna Norton sold 7,056 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 789,704 shares of company stock worth $672,385,964. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New Hampshire raised its position in shares of Eli Lilly and Company by 9.9% in the 2nd quarter. Bank of New Hampshire now owns 763 shares of the company’s stock valued at $691,000 after buying an additional 69 shares in the last quarter. Bright Futures Wealth Management LLC. bought a new position in Eli Lilly and Company in the first quarter valued at approximately $820,000. Lazari Capital Management Inc. bought a new stake in Eli Lilly and Company during the first quarter worth $233,000. Abich Financial Wealth Management LLC lifted its stake in Eli Lilly and Company by 22.7% during the first quarter. Abich Financial Wealth Management LLC now owns 184 shares of the company’s stock worth $143,000 after purchasing an additional 34 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in Eli Lilly and Company during the first quarter worth $265,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.