Eli Lilly and Company (NYSE:LLY) Earns Overweight Rating from Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a report released on Friday, Benzinga reports. The firm currently has a $1,023.00 target price on the stock.

A number of other research analysts have also recently weighed in on the company. Erste Group Bank upgraded Eli Lilly and Company from a hold rating to a buy rating in a research report on Wednesday, April 3rd. BMO Capital Markets reiterated an outperform rating and set a $1,001.00 price objective on shares of Eli Lilly and Company in a research report on Wednesday, July 3rd. Jefferies Financial Group lifted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a buy rating in a research report on Monday, June 24th. Truist Financial reiterated a buy rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Finally, Argus lifted their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a buy rating in a research report on Tuesday, May 14th. 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 stock has an average rating of Moderate Buy and a consensus target price of $816.78.

Eli Lilly and Company Trading Up 1.8 %

NYSE:LLY opened at $914.57 on Friday. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $918.50. The stock has a market capitalization of $869.22 billion, a price-to-earnings ratio of 134.69, a PEG ratio of 1.99 and a beta of 0.41. The stock has a fifty day moving average price of $831.69 and a two-hundred day moving average price of $752.53. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter last year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 858,742 shares of company stock valued at $735,573,781 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently bought and sold shares of LLY. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $9,447,000. 25 LLC acquired a new position in Eli Lilly and Company during the 2nd quarter worth $227,000. Heritage Wealth Partners LLC acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at $1,210,000. Stokes Family Office LLC lifted its holdings in shares of Eli Lilly and Company by 9.8% in the second quarter. Stokes Family Office LLC now owns 4,306 shares of the company’s stock valued at $3,898,000 after buying an additional 384 shares during the period. Finally, HBW Advisory Services LLC lifted its holdings in shares of Eli Lilly and Company by 40.6% in the second quarter. HBW Advisory Services LLC now owns 917 shares of the company’s stock valued at $830,000 after buying an additional 265 shares during the period. 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.