Eli Lilly and Company (NYSE:LLY) Trading Down 1.9%

Eli Lilly and Company (NYSE:LLY)’s stock price was down 1.9% during trading on Wednesday . The stock traded as low as $767.40 and last traded at $778.43. Approximately 1,233,116 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 3,003,924 shares. The stock had previously closed at $793.18.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research analyst reports. Truist Financial restated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a research report on Wednesday, July 3rd. Argus raised their price objective 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. Berenberg Bank increased their target price 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. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $860.05.

Eli Lilly and Company Stock Down 3.2 %

The firm has a market cap of $729.66 billion, a PE ratio of 113.25, a PEG ratio of 1.81 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 company’s 50-day simple moving average is $869.86 and its two-hundred day simple moving average is $792.28.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity

In related 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 value 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 document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 approximately $91,109,731,514.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Capital World Investors raised its stake in Eli Lilly and Company by 0.3% during the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after acquiring an additional 89,720 shares during the period. Norges Bank purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $5,992,890,000. Capital Research Global Investors lifted its holdings in Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Eli Lilly and Company by 5.1% in the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after purchasing an additional 335,560 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.