Eli Lilly and Company (NYSE:LLY) Trading Down 2.3%

Eli Lilly and Company (NYSE:LLY) was down 2.3% during mid-day trading on Wednesday . The stock traded as low as $855.50 and last traded at $857.83. Approximately 773,988 shares changed hands during trading, a decline of 74% from the average daily volume of 2,948,978 shares. The stock had previously closed at $878.29.

Analysts Set New Price Targets

Several research firms have weighed in on LLY. JPMorgan Chase & Co. raised their price objective 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. Bank of America restated a “buy” rating and issued a $1,000.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. 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. Jefferies Financial Group raised their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $1,001.00 price target on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $858.72.

Eli Lilly and Company Trading Down 2.1 %

The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $817.24 billion, a P/E ratio of 126.50, a price-to-earnings-growth ratio of 1.90 and a beta of 0.41. The business has a fifty day moving average price of $866.95 and a 200 day moving average price of $779.76.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 EPS. On average, analysts expect that Eli Lilly and Company will post 13.71 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LLY. Twelve Points Wealth Management LLC increased its holdings in shares of Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after acquiring an additional 11 shares in the last quarter. Verum Partners LLC grew its position in Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after purchasing an additional 11 shares during the period. Acorn Creek Capital LLC raised its holdings in Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after buying an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of Eli Lilly and Company by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Eli Lilly and Company by 1.8% in 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 in the last quarter. 82.53% of the stock is owned by institutional investors.

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.