Eli Lilly and Company Target of Unusually Large Options Trading (NYSE:LLY)

Key Points

• Eli Lilly and Company experienced a significant increase in options trading, with 66,964 call options purchased, marking a 16% rise over its average volume.
• Recent insider transactions include CEO David A. Ricks buying 1,632 shares and director Gabrielle Sulzberger acquiring 117 shares, showing confidence in the company's stock.
• The company reported strong quarterly earnings with a net revenue of $15.56 billion, exceeding forecasts and representing a 37.6% increase year-over-year.

Eli Lilly and Company (NYSE:LLY - Get Free Report) was the target of unusually large options trading activity on Thursday. Traders bought 66,964 call options on the company. Thisrepresentsanincreaseof16% compared to the average daily volume of 57,970 call options.

Insiders Place Their Bets

In related news, CEO David A. Ricks purchased 1,632 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the completion of the acquisition, the chief executive officer owned 546,601 shares of the company's stock, valued at $352,431,926.77. This trade represents a 0.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gabrielle Sulzberger acquired 117 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $641.18 per share, with a total value of $75,018.06. Following the completion of the acquisition, the director directly owned 2,703 shares of the company's stock, valued at approximately $1,733,109.54. The trade was a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently made changes to their positions in LLY. WestEnd Advisors LLC lifted its holdings in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in Eli Lilly and Company during the first quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Eli Lilly and Company during the second quarter valued at $27,000. Financial Gravity Companies Inc. purchased a new position in Eli Lilly and Company during the second quarter valued at $31,000. Finally, Bare Financial Services Inc grew its stake in Eli Lilly and Company by 263.6% during the second quarter. Bare Financial Services Inc now owns 40 shares of the company's stock valued at $31,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

LLY has been the topic of several research reports. Cantor Fitzgerald set a $825.00 price target on shares of Eli Lilly and Company and gave the stock an "overweight" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a research note on Monday. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Guggenheim cut their price objective on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Leerink Partnrs cut shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus price target of $964.88.

Eli Lilly and Company Stock Up 3.3%

NYSE:LLY traded up $21.80 on Thursday, reaching $682.29. 5,633,185 shares of the stock traded hands, compared to its average volume of 4,117,701. The company has a market capitalization of $645.76 billion, a price-to-earnings ratio of 44.54, a PEG ratio of 0.90 and a beta of 0.44. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53. The company's fifty day simple moving average is $767.52 and its 200 day simple moving average is $796.25.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating 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 business had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same period last year, the business earned $3.92 EPS. Eli Lilly and Company's revenue was up 37.6% compared to the same quarter last year. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.9%. Eli Lilly and Company's payout ratio is currently 39.22%.

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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