Eli Lilly and Company (NYSE:LLY) Trading 0% Higher After Analyst Upgrade

Eli Lilly and Company (NYSE:LLY)’s share price was up 0% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,050.00 to $1,100.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Eli Lilly and Company traded as high as $932.40 and last traded at $923.80. Approximately 344,380 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 3,027,126 shares. The stock had previously closed at $923.71.

Several other research firms have also commented on LLY. BMO Capital Markets boosted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 9th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price objective for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $977.35.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 9,671 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total value of $8,729,721.57. Following the transaction, the insider now directly owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 451,900 shares of company stock valued at $418,732,178. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Morton Brown Family Wealth LLC raised its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the period. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the last quarter. Finally, Tidemark LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.9 %

The firm’s 50-day simple moving average is $896.70 and its 200 day simple moving average is $835.96. The stock has a market cap of $861.23 billion, a P/E ratio of 133.46, a PEG ratio of 2.79 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

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

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

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.