Eli Lilly and Company (NYSE:LLY) Shares Down 1.5%

Eli Lilly and Company (NYSE:LLY) shares dropped 1.5% during trading on Tuesday . The stock traded as low as $905.21 and last traded at $909.86. Approximately 557,716 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,021,240 shares. The stock had previously closed at $923.54.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LLY shares. Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Jefferies Financial Group upped 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. Barclays raised their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Guggenheim upped their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Truist Financial reiterated a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Performance

The stock’s 50 day simple moving average is $896.00 and its two-hundred day simple moving average is $836.45. The company has a market cap of $860.21 billion, a PE ratio of 133.30, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $9.83 billion. As a group, research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 filing with the SEC, which is available at this link. In the last quarter, insiders sold 442,229 shares of company stock valued at $410,002,456. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Large investors have recently modified their holdings of the stock. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $29,000. Core Wealth Advisors Inc. boosted its position in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the period. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company in the second quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at $36,000. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.