Eli Lilly and Company (NYSE:LLY) Stock Price Down 4.7%

Eli Lilly and Company (NYSE:LLY)’s share price traded down 4.7% during mid-day trading on Thursday . The stock traded as low as $808.07 and last traded at $819.45. 1,648,260 shares changed hands during trading, a decline of 44% from the average session volume of 2,953,565 shares. The stock had previously closed at $859.88.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup raised their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,001.00 price objective on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $1,023.00 price objective on shares of Eli Lilly and Company in a research note on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $858.72.

Eli Lilly and Company Stock Down 2.0 %

The firm has a market cap of $765.19 billion, a P/E ratio of 118.57, a price-to-earnings-growth ratio of 1.79 and a beta of 0.41. The stock’s 50 day simple moving average is $870.13 and its 200 day simple moving average is $781.86. 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 posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 EPS. Research analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316 in the last three months. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LLY. Independent Advisor Alliance increased its position in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after buying an additional 544 shares during the period. Apexium Financial LP increased its position in shares of Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after buying an additional 10,842 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $363,000. Terril Brothers Inc. increased its position in shares of Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after buying an additional 429 shares during the period. Finally, Capital Planning LLC bought a new stake in shares of Eli Lilly and Company during the first quarter valued at about $262,000. 82.53% of the stock is currently 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.