Eli Lilly and Company (NYSE:LLY) Hits New 52-Week High at $911.35

Eli Lilly and Company (NYSE:LLY) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $911.35 and last traded at $909.77, with a volume of 173669 shares. The stock had previously closed at $909.04.

Analyst Ratings Changes

Several equities analysts recently weighed in on LLY shares. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Argus upped their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, June 24th. Finally, Citigroup upped their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

Eli Lilly and Company Price Performance

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 business’s 50-day simple moving average is $814.40 and its 200 day simple moving average is $739.86. The firm has a market capitalization of $860.48 billion, a P/E ratio of 133.34, a PEG ratio of 1.98 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter last year, the business earned $1.62 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis. Sell-side analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now 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 Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold a total of 789,704 shares of company stock worth $672,385,964 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bright Futures Wealth Management LLC. purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth about $820,000. Lazari Capital Management Inc. purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth about $233,000. Abich Financial Wealth Management LLC raised its position in shares of Eli Lilly and Company by 22.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 184 shares of the company’s stock worth $143,000 after purchasing an additional 34 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth about $265,000. Finally, NBW Capital LLC raised its position in shares of Eli Lilly and Company by 13.3% in the 1st quarter. NBW Capital LLC now owns 876 shares of the company’s stock worth $681,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.