Eli Lilly and Company (NYSE:LLY) Stock Price Up 0.7%

Shares of Eli Lilly and Company (NYSE:LLY) traded up 0.7% during trading on Thursday . The stock traded as high as $905.45 and last traded at $898.03. 872,178 shares were traded during trading, a decline of 70% from the average session volume of 2,922,502 shares. The stock had previously closed at $891.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” 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. Bank of America raised their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Jefferies Financial Group boosted their target price on Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Finally, Truist Financial increased their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $803.50.

Eli Lilly and Company Stock Down 0.2 %

The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $798.59 and a 200-day simple moving average of $727.93. The firm has a market cap of $840.60 billion, a PE ratio of 130.26, a PEG ratio of 1.93 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the company earned $1.62 earnings per share. Sell-side analysts predict that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were paid a $1.30 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.59%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated 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 completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold a total of 762,804 shares of company stock worth $648,109,138 over the last 90 days. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds have recently added to or reduced their stakes in LLY. Fuller & Thaler Asset Management Inc. boosted its position in Eli Lilly and Company by 7.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,054 shares of the company’s stock worth $1,640,000 after purchasing an additional 200 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Eli Lilly and Company in the third quarter worth approximately $36,000. Eagle Asset Management Inc. grew its position in Eli Lilly and Company by 37.2% during the third quarter. Eagle Asset Management Inc. now owns 21,274 shares of the company’s stock valued at $11,427,000 after buying an additional 5,772 shares during the period. Jacobi Capital Management LLC increased its holdings in Eli Lilly and Company by 7.7% during the third quarter. Jacobi Capital Management LLC now owns 16,394 shares of the company’s stock valued at $8,805,000 after buying an additional 1,168 shares during the last quarter. Finally, GSB Wealth Management LLC increased its holdings in Eli Lilly and Company by 10.3% during the third quarter. GSB Wealth Management LLC now owns 800 shares of the company’s stock valued at $430,000 after buying an additional 75 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.