Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.5%

Eli Lilly and Company (NYSE:LLY)’s stock price fell 0.5% on Friday . The company traded as low as $945.80 and last traded at $949.81. 520,746 shares traded hands during trading, a decline of 83% from the average session volume of 3,086,914 shares. The stock had previously closed at $954.17.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LLY. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Berenberg Bank raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Truist Financial restated a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group raised their price objective on shares of 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. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $956.88.

Eli Lilly and Company Price Performance

The stock has a market capitalization of $901.54 billion, a PE ratio of 139.88, a P/E/G ratio of 1.81 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The firm’s 50 day simple moving average is $884.83 and its 200 day simple moving average is $812.10.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 dividend on an annualized basis and a yield of 0.55%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 22,206 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $822.11, for a total value of $18,255,774.66. Following the sale, the insider now directly owns 98,401,604 shares of the company’s stock, valued at approximately $80,896,942,664.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 22,206 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the transaction, the insider now owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The disclosure for this sale can be found here. Insiders sold 1,122,141 shares of company stock worth $991,938,411 in the last three months. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors have recently made changes to their positions in the business. Aldebaran Financial Inc. lifted its stake in shares of Eli Lilly and Company by 17.9% in the 2nd quarter. Aldebaran Financial Inc. now owns 723 shares of the company’s stock worth $655,000 after purchasing an additional 110 shares during the period. Cetera Investment Advisers lifted its stake in shares of Eli Lilly and Company by 0.3% in the 2nd quarter. Cetera Investment Advisers now owns 224,922 shares of the company’s stock worth $203,641,000 after purchasing an additional 603 shares during the period. 3Chopt Investment Partners LLC lifted its stake in shares of Eli Lilly and Company by 14.8% in the 2nd quarter. 3Chopt Investment Partners LLC now owns 3,746 shares of the company’s stock worth $3,392,000 after purchasing an additional 483 shares during the period. Granite Bay Wealth Management LLC bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $323,000. Finally, Ted Buchan & Co bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $1,780,000. 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.