Eli Lilly and Company (NYSE:LLY) Shares Up 1%

Eli Lilly and Company (NYSE:LLY)’s share price shot up 1% on Thursday . The stock traded as high as $934.07 and last traded at $930.43. 691,739 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 3,037,607 shares. The stock had previously closed at $920.89.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LLY. Bank of America upped their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Barclays upped their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Guggenheim upped their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group upped their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Three equities research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Price Performance

The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $890.20 billion, a PE ratio of 137.03, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42. The firm has a 50 day moving average price of $896.20 and a 200 day moving average price of $831.11.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Research analysts anticipate that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $1.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. Eli Lilly and Company’s payout ratio is presently 76.58%.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 194,978 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $885.91, for a total value of $172,732,959.98. Following the completion of the sale, the insider now owns 97,583,810 shares in the company, valued at approximately $86,450,473,117.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 661,900 shares of company stock worth $604,721,602. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LLY. Tidemark LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $29,000. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $36,000. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $37,000. 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.