Eli Lilly and Company (NYSE:LLY) Trading 3.9% Higher After Insider Buying Activity

Key Points

• Eli Lilly and Company shares rose by 3.9% following insider buying activity, with 4,500,835 shares traded, significantly above the average volume.
• Director Jamere Jackson acquired 200 shares at $639.56 each, increasing his position by 2.17% to a total of 9,402 shares.
• Analysts have a consensus rating of "Moderate Buy" for Eli Lilly, with target prices ranging from $895 to $1,135 following numerous recent reports.

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares shot up 3.9% during trading on Monday following insider buying activity. The company traded as high as $652.18 and last traded at $650.06. 4,500,835 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 4,022,037 shares. The stock had previously closed at $625.65.

Specifically, Director Jamere Jackson bought 200 shares of the stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the acquisition, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This represents a 2.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of analyst reports. UBS Group cut their price objective on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday. Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Guggenheim raised 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 research report on Friday, July 11th. Finally, Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $984.41.

Eli Lilly and Company Trading Up 3.8%

The firm has a market cap of $614.47 billion, a P/E ratio of 42.58, a price-to-earnings-growth ratio of 0.87 and a beta of 0.44. The business's 50 day moving average is $774.10 and its 200-day moving average is $799.34. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the previous year, the company posted $3.92 earnings per share. The firm's revenue was up 37.6% on a year-over-year basis. As a group, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.9%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors have recently bought and sold shares of the stock. Knightsbridge Asset Management LLC raised its holdings in 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 buying an additional 15 shares during the period. LS Investment Advisors LLC lifted its holdings 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 worth $1,933,000 after buying an additional 40 shares during the last quarter. Prism Advisors Inc. acquired a new position in shares of Eli Lilly and Company in the first quarter valued at $207,000. CSM Advisors LLC raised its stake in shares of Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after purchasing an additional 245 shares in the last quarter. Finally, Hemington Wealth Management raised its stake in Eli Lilly and Company by 14.4% during the first quarter. Hemington Wealth Management now owns 985 shares of the company's stock worth $813,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds 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.

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