Eli Lilly and Company (NYSE:LLY) Trading Up 1%

Eli Lilly and Company (NYSE:LLY)’s share price was up 1% during trading on Thursday . The stock traded as high as $972.53 and last traded at $961.25. Approximately 1,190,399 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 3,090,450 shares. The stock had previously closed at $951.97.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America boosted their price objective 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. Morgan Stanley reissued an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. Argus raised their price objective 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. Berenberg Bank boosted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $956.88.

Eli Lilly and Company Trading Down 0.2 %

The firm has a market capitalization of $905.27 billion, a price-to-earnings ratio of 140.28, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The business’s 50 day moving average price is $886.32 and its 200-day moving average price is $813.81. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the transaction, the insider now owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 22,206 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the transaction, the insider now directly owns 98,401,604 shares in the company, valued at $80,896,942,664.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders sold 1,122,141 shares of company stock valued at $991,938,411 in the last three months. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Eli Lilly and Company

A number of institutional investors have recently bought and sold shares of the company. Independent Advisor Alliance grew its stake in Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after acquiring an additional 544 shares during the last quarter. Apexium Financial LP grew its position in shares of Eli Lilly and Company by 1,819.1% in the fourth 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 last quarter. Terril Brothers Inc. increased its stake in shares of Eli Lilly and Company by 113.2% during the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after purchasing an additional 429 shares in the last quarter. Capital Planning LLC acquired a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $262,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in Eli Lilly and Company in the 1st quarter valued at approximately $6,916,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.