Eli Lilly and Company (NYSE:LLY) Trading Down 0.2%

Eli Lilly and Company (NYSE:LLY)’s stock price fell 0.2% on Tuesday . The company traded as low as $904.55 and last traded at $906.53. 426,719 shares were traded during trading, a decline of 86% from the average session volume of 3,044,267 shares. The stock had previously closed at $908.27.

Wall Street Analysts Forecast Growth

LLY has been the topic of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. BMO Capital Markets raised their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price objective for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Wells Fargo & Company raised their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Truist Financial restated a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research 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 MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $961.76.

Eli Lilly and Company Price Performance

The company has a 50 day moving average of $895.85 and a two-hundred day moving average of $829.55. The firm has a market cap of $858.21 billion, a P/E ratio of 133.51, a PEG ratio of 2.73 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Sell-side analysts expect that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 15,022 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $882.47, for a total value of $13,256,464.34. Following the completion of the transaction, the insider now owns 97,778,788 shares in the company, valued at approximately $86,286,847,046.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 661,900 shares of company stock valued at $604,721,602 over the last three months. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LLY. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $29,000. Core Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter valued at $36,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth $37,000. Institutional investors and hedge funds 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.