Eli Lilly and Company (NYSE:LLY) Trading 1.3% Higher - Here's Why

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price traded up 1.3% on Wednesday . The stock traded as high as $794.00 and last traded at $787.83. 752,333 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 3,656,125 shares. The stock had previously closed at $777.66.

Analyst Ratings Changes

LLY has been the topic of several research analyst reports. Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Guggenheim reaffirmed a "buy" rating and set a $936.00 price objective on shares of Eli Lilly and Company in a report on Friday, June 20th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, UBS Group dropped their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average target price of $1,012.22.

Eli Lilly and Company Stock Up 0.4%

The firm has a market cap of $748.93 billion, a PE ratio of 64.30, a PEG ratio of 1.15 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The company's 50-day simple moving average is $767.12 and its two-hundred day simple moving average is $800.05.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 earnings per share. On average, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Institutional Trading of Eli Lilly and Company

Several large investors have recently added to or reduced their stakes in LLY. Knightsbridge Asset Management LLC grew its holdings in shares of Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after acquiring an additional 15 shares during the period. LS Investment Advisors LLC boosted its position in shares of Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after purchasing an additional 40 shares in the last quarter. CSM Advisors LLC grew its stake in Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after purchasing an additional 245 shares during the period. Proficio Capital Partners LLC raised its holdings in Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock worth $5,202,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Bfsg LLC lifted its position in Eli Lilly and Company by 1.4% during the first quarter. Bfsg LLC now owns 2,959 shares of the company's stock valued at $2,444,000 after buying an additional 42 shares during the period. Institutional investors own 82.53% of the company's stock.

About Eli Lilly and Company

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.