Brokerages Set Eli Lilly and Company (NYSE:LLY) PT at $961.76

Shares of Eli Lilly and Company (NYSE:LLY) have been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $961.76.

A number of brokerages have weighed in on LLY. Guggenheim lifted their price target on shares of 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. Truist Financial reissued 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 report on Tuesday, June 25th. Argus raised their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Jefferies Financial Group boosted their price objective on 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. Finally, Bank of America raised their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th.

Eli Lilly and Company Trading Down 1.1 %

LLY opened at $946.31 on Thursday. The stock has a market capitalization of $899.38 billion, a PE ratio of 139.37, a P/E/G ratio of 2.91 and a beta of 0.41. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The business’s 50 day moving average price is $895.96 and its 200 day moving average price is $826.05.

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

Eli Lilly and Company Announces Dividend

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

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 876,900 shares of company stock valued at $788,605,032 in the last ninety days. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LLY. Everpar Advisors LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $1,845,000. International Assets Investment Management LLC lifted its stake in shares of Eli Lilly and Company by 5.3% in the 4th quarter. International Assets Investment Management LLC now owns 12,597 shares of the company’s stock worth $7,343,000 after acquiring an additional 632 shares during the period. AMJ Financial Wealth Management acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth $201,000. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its holdings in shares of Eli Lilly and Company by 124.7% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,438 shares of the company’s stock valued at $838,000 after acquiring an additional 798 shares in the last quarter. Finally, Providence First Trust Co acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $274,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.