Insider Buying: Eli Lilly and Company (NYSE:LLY) CEO Acquires 1,632 Shares of Stock

Key Points

• Eli Lilly and Company CEO David A. Ricks purchased 1,632 shares at an average price of $644.77 each, totaling over $1 million, increasing his shareholding to 546,601 shares.
• The company reported $6.31 EPS for the last quarter, surpassing estimates and showcasing a 37.6% increase in revenue year-over-year.
• Eli Lilly has declared a $1.50 quarterly dividend, with an annualized yield of 0.9%, set to be paid on September 10th for investors of record on August 15th.

Eli Lilly and Company (NYSE:LLY - Get Free Report) CEO David A. Ricks purchased 1,632 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the acquisition, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Eli Lilly and Company Stock Up 0.7%

Shares of NYSE LLY traded up $4.28 during mid-day trading on Tuesday, reaching $639.50. The company had a trading volume of 6,870,200 shares, compared to its average volume of 4,094,222. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The stock has a market capitalization of $605.26 billion, a PE ratio of 41.80, a price-to-earnings-growth ratio of 0.87 and a beta of 0.44. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53. The stock's 50 day moving average is $771.87 and its 200-day moving average is $798.30.

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

Eli Lilly and Company Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.9%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 39.22%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LLY. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. UBS Group cut their price objective on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a report on Friday. Leerink Partnrs lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $977.65.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently modified their holdings of LLY. WestEnd Advisors LLC increased its stake in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after buying an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Eli Lilly and Company in the 1st quarter valued at about $27,000. Financial Gravity Companies Inc. bought a new stake in Eli Lilly and Company in the 2nd quarter valued at about $31,000. Blume Capital Management Inc. boosted its holdings in Eli Lilly and Company by 46.7% in the 2nd quarter. Blume Capital Management Inc. now owns 44 shares of the company's stock valued at $34,000 after purchasing an additional 14 shares during the period. Finally, Citizens National Bank Trust Department lifted its holdings in shares of Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares during the period. 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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