Eli Lilly and Company (NYSE:LLY) Trading 2.4% Higher

Shares of Eli Lilly and Company (NYSE:LLY) rose 2.4% on Friday . The stock traded as high as $939.86 and last traded at $937.22. Approximately 1,537,892 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 3,012,382 shares. The stock had previously closed at $915.04.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LLY shares. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company lifted their price target on shares of 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. Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Citigroup began coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $881.10 billion, a P/E ratio of 138.03, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The business’s fifty day simple moving average is $895.62 and its 200-day simple moving average is $836.99.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping 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 company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. As a group, equities analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock in a transaction on Friday, June 28th. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82. Following the completion of the transaction, the insider now directly owns 97,367,369 shares of the company’s stock, valued at approximately $89,093,089,982.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 442,229 shares of company stock valued at $410,002,456 over the last 90 days. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. AMJ Financial Wealth Management bought a new position in Eli Lilly and Company in the 4th quarter valued at $201,000. Aveo Capital Partners LLC boosted its stake in shares of Eli Lilly and Company by 8.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock valued at $1,178,000 after purchasing an additional 153 shares during the period. Gryphon Financial Partners LLC grew its holdings in shares of Eli Lilly and Company by 19.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock worth $1,355,000 after purchasing an additional 377 shares during the last quarter. Quest Partners LLC purchased a new position in Eli Lilly and Company in the 4th quarter worth about $313,000. Finally, GW&K Investment Management LLC lifted its holdings in Eli Lilly and Company by 2.4% during the 4th quarter. GW&K Investment Management LLC now owns 754 shares of the company’s stock valued at $440,000 after buying an additional 18 shares in the last quarter. 82.53% of the stock is 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.