Eli Lilly and Company (NYSE:LLY) Hits New 12-Month High at $911.35

Shares of Eli Lilly and Company (NYSE:LLY) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $911.35 and last traded at $909.77, with a volume of 173669 shares. The stock had previously closed at $909.04.

Analysts Set New Price Targets

LLY has been the topic of several recent research reports. Argus increased their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. 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. Jefferies Financial Group lifted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup upped their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $812.72.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $864.77 billion, a PE ratio of 133.88, a PEG ratio of 1.97 and a beta of 0.36. 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 business’s 50-day moving average is $807.55 and its 200-day moving average is $735.35.

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

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the completion of the transaction, the insider now directly owns 97,556,910 shares in the company, valued at approximately $88,033,404,445.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 789,704 shares of company stock valued at $672,385,964 in the last quarter. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc raised its holdings in shares of Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after purchasing an additional 13 shares during the last quarter. Innova Wealth Partners raised its stake in Eli Lilly and Company by 1.2% during the 1st quarter. Innova Wealth Partners now owns 1,068 shares of the company’s stock valued at $831,000 after buying an additional 13 shares during the last quarter. Twin Peaks Wealth Advisors LLC boosted its stake in shares of Eli Lilly and Company by 2.0% in the 1st quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock worth $559,000 after buying an additional 14 shares during the last quarter. Pitti Group Wealth Management LLC increased its position in Eli Lilly and Company by 0.8% during the first quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company’s stock valued at $1,271,000 after acquiring an additional 14 shares during the last quarter. Finally, Ulland Investment Advisors LLC boosted its position in Eli Lilly and Company by 7.0% in the first quarter. Ulland Investment Advisors LLC now owns 214 shares of the company’s stock worth $166,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.