Eli Lilly and Company (NYSE:LLY) Trading Up 2.2%

Eli Lilly and Company (NYSE:LLY)’s share price was up 2.2% during trading on Tuesday . The stock traded as high as $914.69 and last traded at $903.75. Approximately 1,238,657 shares traded hands during trading, a decline of 60% from the average daily volume of 3,085,381 shares. The stock had previously closed at $884.38.

Analyst Ratings Changes

Several research firms have weighed in on LLY. Berenberg Bank raised their price target on Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. BMO Capital Markets upped their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Guggenheim increased their price target on shares of Eli Lilly and Company from $855.00 to $884.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $945.35.

Eli Lilly and Company Price Performance

The company has a market cap of $861.87 billion, a PE ratio of 133.10, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a 50 day simple moving average of $872.13 and a 200-day simple moving average of $798.42.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated 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 transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold 1,214,704 shares of company stock valued at $1,066,841,316 over the last 90 days. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the period. Capital World Investors grew its position in shares of Eli Lilly and Company by 0.3% in the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares during the period. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $5,992,890,000. Capital Research Global Investors boosted its position in Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after acquiring an additional 453,939 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Eli Lilly and Company by 5.1% in the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after purchasing an additional 335,560 shares in the last quarter. 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.