Eli Lilly and Company (NYSE:LLY) Shares Up 0.8% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY)’s share price was up 0.8% during mid-day trading on Thursday . The company traded as high as $790.45 and last traded at $782.64. Approximately 1,332,820 shares changed hands during trading, a decline of 57% from the average daily volume of 3,079,240 shares. The stock had previously closed at $776.38.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent analyst reports. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company boosted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, BMO Capital Markets boosted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,008.41.

Eli Lilly and Company Trading Up 3.1 %

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business’s 50-day simple moving average is $901.75 and its two-hundred day simple moving average is $867.32. The stock has a market capitalization of $759.92 billion, a price-to-earnings ratio of 84.61, a PEG ratio of 3.05 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. On average, research analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Institutional Investors Weigh In On Eli Lilly and Company

Several large investors have recently added to or reduced their stakes in LLY. China Universal Asset Management Co. Ltd. raised its stake in Eli Lilly and Company by 19.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after acquiring an additional 1,620 shares in the last quarter. Quent Capital LLC lifted its holdings in Eli Lilly and Company by 5.3% in the first quarter. Quent Capital LLC now owns 4,943 shares of the company’s stock worth $3,846,000 after purchasing an additional 249 shares during the period. W.H. Cornerstone Investments Inc. grew its position in Eli Lilly and Company by 44.6% in the 1st quarter. W.H. Cornerstone Investments Inc. now owns 1,213 shares of the company’s stock valued at $944,000 after buying an additional 374 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of Eli Lilly and Company by 33.9% during the 1st quarter. Manchester Capital Management LLC now owns 4,049 shares of the company’s stock worth $3,150,000 after buying an additional 1,025 shares in the last quarter. Finally, Advisory Services Network LLC lifted its stake in shares of Eli Lilly and Company by 5.1% in the 1st quarter. Advisory Services Network LLC now owns 45,528 shares of the company’s stock worth $35,418,000 after acquiring an additional 2,225 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

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.