Eli Lilly and Company (NYSE:LLY) Shares Up 1.4% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) was up 1.4% on Thursday . The stock traded as high as $795.44 and last traded at $797.90. Approximately 705,983 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 3,657,286 shares. The stock had previously closed at $786.92.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LLY. UBS Group dropped their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wall Street Zen lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Up 0.3%

The business has a 50 day moving average of $767.03 and a two-hundred day moving average of $800.01. 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 stock has a market capitalization of $751.88 billion, a PE ratio of 64.55, a PEG ratio of 1.15 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm 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 company's revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.58 EPS. Analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in Eli Lilly and Company by 97.5% in 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 acquiring an additional 50,002,551 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after buying an additional 4,975,395 shares during the period. Geode Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 1.7% during 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 buying an additional 291,875 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of 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 acquiring an additional 81,587 shares during the period. 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.