Eli Lilly and Company (NYSE:LLY) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $885.00 target price on the stock.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a hold rating to a buy rating and boosted their price objective for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Jefferies Financial Group boosted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a buy rating in a research note on Monday, June 24th. Bank of America boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a buy rating in a research note on Friday, August 9th. Berenberg Bank boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a buy rating in a research note on Wednesday, August 14th. Finally, Truist Financial reiterated a buy rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $977.35.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $924.05 on Monday. The firm has a market cap of $878.22 billion, a PE ratio of 136.09, a PEG ratio of 2.79 and a beta of 0.42. The stock’s fifty day moving average price is $897.24 and its two-hundred day moving average price is $835.09. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, equities research analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the completion of the sale, the insider now directly owns 97,556,910 shares in the company, valued at approximately $88,033,404,445.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 451,900 shares of company stock worth $418,732,178. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors have recently bought and sold shares of LLY. Swedbank AB purchased a new stake in Eli Lilly and Company during the 1st quarter valued at about $932,797,000. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the period. Wulff Hansen & CO. boosted its holdings in Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after acquiring an additional 936,033 shares during the period. GQG Partners LLC raised its position in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Finally, Comerica Bank raised its position in Eli Lilly and Company by 71.6% during the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after purchasing an additional 631,312 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other 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.