Eli Lilly and Company (NYSE:LLY) Given New $884.00 Price Target at Guggenheim

Eli Lilly and Company (NYSE:LLY) had its price target raised by Guggenheim from $855.00 to $884.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on LLY. Argus upped their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a buy rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an overweight rating in a report on Thursday, July 11th. 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 report on Monday, June 24th. Cantor Fitzgerald reissued an overweight rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Finally, Barclays increased 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 report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $860.05.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded up $17.92 during mid-day trading on Monday, hitting $793.18. The stock had a trading volume of 3,428,835 shares, compared to its average volume of 3,015,672. The firm has a market capitalization of $753.84 billion, a P/E ratio of 117.58, a P/E/G ratio of 1.81 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The firm’s 50 day moving average is $870.16 and its 200 day moving average is $791.12. Eli Lilly and Company has a one year low of $450.58 and a one year high of $966.10.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s 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 accessible through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s 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 accessible through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. 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 ninety days. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the business. Independent Advisor Alliance boosted its stake 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 purchasing an additional 544 shares in the last quarter. Apexium Financial LP boosted its stake 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 purchasing an additional 10,842 shares in the last quarter. Terril Brothers Inc. boosted its stake 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 purchasing an additional 429 shares in the last quarter. Capital Planning LLC bought a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $262,000. Finally, Hartline Investment Corp boosted its stake in shares of Eli Lilly and Company by 1.1% during the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after purchasing an additional 248 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Company Profile

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.