Eli Lilly and Company (NYSE:LLY) Shares Up 0%

Shares of Eli Lilly and Company (NYSE:LLY) shot up 0% on Wednesday . The stock traded as high as $910.69 and last traded at $901.50. 542,903 shares traded hands during trading, a decline of 82% from the average session volume of 3,038,051 shares. The stock had previously closed at $901.25.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LLY. 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, July 10th. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Trading Up 1.5 %

The stock’s 50-day simple moving average is $896.94 and its 200-day simple moving average is $831.83. 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 firm has a market capitalization of $888.74 billion, a PE ratio of 137.72, a P/E/G ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. As a group, sell-side analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the transaction, 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 SEC, which is accessible through the SEC website. Insiders sold 646,878 shares of company stock worth $591,465,138 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds have recently added to or reduced their stakes in LLY. Newbridge Financial Services Group Inc. lifted its holdings in Eli Lilly and Company by 18.4% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,850 shares of the company’s stock valued at $3,486,000 after acquiring an additional 597 shares during the period. Cannon Financial Strategists Inc. purchased a new position in shares of Eli Lilly and Company in the second quarter worth approximately $315,000. Heritage Wealth Management Inc. bought a new stake in Eli Lilly and Company during the second quarter valued at approximately $9,582,000. Lazari Capital Management Inc. increased its holdings in Eli Lilly and Company by 59.0% during the second quarter. Lazari Capital Management Inc. now owns 477 shares of the company’s stock valued at $432,000 after buying an additional 177 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth $205,136,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.