Eli Lilly and Company (NYSE:LLY) Shares Down 5.1%

Eli Lilly and Company (NYSE:LLY)’s share price was down 5.1% during mid-day trading on Friday . The company traded as low as $787.09 and last traded at $789.59. Approximately 1,152,904 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 2,985,791 shares. The stock had previously closed at $832.44.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Morgan Stanley restated an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. 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 report on Thursday, July 11th. Bank of America reaffirmed a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Finally, 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 note on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $858.72.

Eli Lilly and Company Price Performance

The firm has a market capitalization of $757.42 billion, a P/E ratio of 116.29, a P/E/G ratio of 1.75 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a 50 day moving average of $870.86 and a two-hundred day moving average of $786.73.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the business posted $1.62 EPS. Sell-side analysts predict that Eli Lilly and Company will post 13.79 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Insider Activity at Eli Lilly and Company

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 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 sale, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock worth $1,066,841,316 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Eli Lilly and Company

Several large investors have recently added to or reduced their stakes in LLY. Archer Investment Corp raised its position in shares of Eli Lilly and Company by 0.6% during the second quarter. Archer Investment Corp now owns 3,114 shares of the company’s stock worth $2,820,000 after acquiring an additional 19 shares during the last quarter. Founders Financial Securities LLC raised its position in shares of Eli Lilly and Company by 66.5% during the second quarter. Founders Financial Securities LLC now owns 2,471 shares of the company’s stock worth $2,237,000 after purchasing an additional 987 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Eli Lilly and Company by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 68,580 shares of the company’s stock worth $62,091,000 after purchasing an additional 459 shares during the period. Paragon Financial Partners Inc. acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $206,000. Finally, Oxinas Partners Wealth Management LLC raised its holdings in Eli Lilly and Company by 4.5% during the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 534 shares of the company’s stock worth $484,000 after buying an additional 23 shares during the period. 82.53% of the stock is 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.