Eli Lilly and Company (NYSE:LLY) Shares Up 1.2% Following Analyst Upgrade

Shares of Eli Lilly and Company (NYSE:LLY) were up 1.2% during mid-day trading on Friday after Berenberg Bank raised their price target on the stock from $850.00 to $1,000.00. Berenberg Bank currently has a buy rating on the stock. Eli Lilly and Company traded as high as $948.71 and last traded at $945.51. Approximately 766,238 shares were traded during trading, a decline of 74% from the average daily volume of 2,919,053 shares. The stock had previously closed at $934.14.

Other equities research analysts have also recently issued reports about the company. Barclays boosted 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 note on Wednesday. Jefferies Financial Group raised their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, July 1st. Citigroup raised their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $843.00.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction that occurred on 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 directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the firm’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 completion of the sale, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several large investors have recently bought and sold shares of the company. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Tidemark LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at $29,000. Core Wealth Advisors Inc. grew its position 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 worth $29,000 after buying an additional 32 shares during the period. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the 2nd quarter valued at about $32,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company during the fourth quarter worth about $37,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Up 1.2 %

The stock’s fifty day simple moving average is $845.17 and its two-hundred day simple moving average is $760.02. The firm has a market cap of $898.47 billion, a PE ratio of 139.25, a PEG ratio of 2.05 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. On average, sell-side analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. Eli Lilly and Company’s payout ratio is presently 76.58%.

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.