Eli Lilly and Company (NYSE:LLY) Trading 2.4% Higher After Analyst Upgrade

Eli Lilly and Company (NYSE:LLY) shares were up 2.4% during mid-day trading on Tuesday after Guggenheim raised their price target on the stock from $855.00 to $884.00. Guggenheim currently has a buy rating on the stock. Eli Lilly and Company traded as high as $796.80 and last traded at $793.65. Approximately 870,083 shares changed hands during trading, a decline of 71% from the average daily volume of 2,998,192 shares. The stock had previously closed at $775.26.

Other analysts have also recently issued reports about the company. Barclays lifted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Argus lifted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. The Goldman Sachs Group boosted their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Truist Financial reaffirmed a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $860.05.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the business’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 directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Large investors have recently modified their holdings of the company. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $26,000. Tidemark LLC acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $29,000. Core Wealth Advisors Inc. increased its holdings in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $36,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

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 stock has a 50 day moving average of $869.05 and a 200 day moving average of $792.14. The stock has a market capitalization of $733.85 billion, a P/E ratio of 113.72, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

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.