Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.8% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares were up 1.8% during mid-day trading on Friday . The company traded as high as $737.24 and last traded at $735.25. Approximately 1,098,741 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 3,616,927 shares. The stock had previously closed at $722.57.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LLY shares. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Truist Financial lifted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. UBS Group reduced their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Stock Up 1.2%

The firm has a 50-day moving average price of $776.85 and a two-hundred day moving average price of $799.98. The company has a market capitalization of $707.60 billion, a P/E ratio of 63.76, a PEG ratio of 1.40 and a beta of 0.48. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 earnings per share. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS 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, June 10th. Stockholders of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.80%. Eli Lilly and Company's payout ratio is presently 48.82%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after acquiring an additional 4,975,395 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC raised its position in Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Eli Lilly and Company by 0.6% in the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock valued at $10,495,261,000 after buying an additional 81,587 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.