Eli Lilly and Company (NYSE:LLY) Shares Up 3% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares traded up 3% on Wednesday . The company traded as high as $792.67 and last traded at $794.83. 882,563 shares changed hands during trading, a decline of 76% from the average session volume of 3,668,072 shares. The stock had previously closed at $771.75.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. Guggenheim boosted their target price on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, UBS Group reduced their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One investment 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.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and Company Stock Performance

The firm has a market capitalization of $747.68 billion, a P/E ratio of 64.19, a price-to-earnings-growth ratio of 1.12 and a beta of 0.40. The company's 50 day moving average is $766.12 and its 200-day moving average is $799.91. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (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 the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 earnings per share. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Garner Asset Management Corp raised its holdings in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after buying an additional 12 shares during the last quarter. Brighton Jones LLC raised its holdings in Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after buying an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after buying an additional 40 shares during the last quarter. Orion Capital Management LLC raised its holdings in Eli Lilly and Company by 2.5% during the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock worth $1,243,000 after buying an additional 40 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its holdings in shares of Eli Lilly and Company by 4.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after purchasing an additional 2,568 shares during the last quarter. 82.53% of the stock is owned by 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.