Eli Lilly and Company (NYSE:LLY) Price Target Raised to $1,038.00 at Truist Financial

Eli Lilly and Company (NYSE:LLY) had its price target boosted by Truist Financial from $1,029.00 to $1,038.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the company. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Barclays cut their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Trading Up 2.1 %

NYSE:LLY opened at $843.82 on Monday. Eli Lilly and Company has a 12 month low of $691.10 and a 12 month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $801.05 billion, a price-to-earnings ratio of 91.22, a PEG ratio of 1.72 and a beta of 0.42. The firm has a fifty day simple moving average of $785.46 and a two-hundred day simple moving average of $843.28.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.71%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 64.86%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC raised its stake in shares of Eli Lilly and Company by 27.9% in the second quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after buying an additional 110 shares during the period. AMF Tjanstepension AB raised its stake in Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after acquiring an additional 176,552 shares during the period. Czech National Bank lifted its holdings in Eli Lilly and Company by 5.6% during the third quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after purchasing an additional 8,566 shares during the last quarter. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 24.3% during the third quarter. GAMMA Investing LLC now owns 14,491 shares of the company’s stock worth $12,838,000 after purchasing an additional 2,833 shares during the period. Finally, WealthBridge Capital Management LLC increased its stake in shares of Eli Lilly and Company by 55.6% in the third quarter. WealthBridge Capital Management LLC now owns 5,249 shares of the company’s stock worth $4,650,000 after purchasing an additional 1,876 shares in the last quarter. 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.