Eli Lilly and Company (NYSE:LLY) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of Eli Lilly and Company (NYSE:LLY) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $1,060.00 price objective on the stock.

LLY has been the topic of several other research reports. Jefferies Financial Group lifted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a buy rating in a research note on Monday, June 24th. Bank of America boosted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a buy rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Barclays increased their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Finally, Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a buy rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $977.35.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $923.71 on Friday. The firm has a market capitalization of $877.92 billion, a P/E ratio of 136.04, a PEG ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The business has a fifty day moving average of $897.12 and a 200 day moving average of $833.89.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares in the company, valued at approximately $88,033,404,445.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 451,900 shares of company stock valued at $418,732,178 over the last 90 days. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Several large investors have recently added to or reduced their stakes in the stock. Independent Advisor Alliance lifted its position in Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares during the last quarter. Capital Planning LLC bought a new stake in shares of Eli Lilly and Company in the 1st quarter worth about $262,000. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth about $6,916,000. M&G Plc bought a new position in Eli Lilly and Company during the 1st quarter valued at about $8,896,000. Finally, IPG Investment Advisors LLC purchased a new stake in Eli Lilly and Company in the 4th quarter worth about $351,000. 82.53% of the stock is owned by 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.