Insider Buying: Eli Lilly and Company (NYSE:LLY) Director Buys 1,565 Shares of Stock

Key Points

• Director Activity: Eli Lilly Director J Erik Fyrwald bought 1,565 shares at an average price of $642.33, totaling over $1 million, increasing his ownership by 2.14%.
• Quarterly Earnings: The company reported earnings of $6.31 per share, exceeding estimates, with a revenue of $15.56 billion, marking a 37.6% increase year-over-year.
• Dividend Announcement: Eli Lilly declared a quarterly dividend of $1.50 per share, with a $6.00 annualized dividend and a yield of 0.9%, set to be paid on September 10th.

Eli Lilly and Company (NYSE:LLY - Get Free Report) Director J Erik Fyrwald purchased 1,565 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were bought at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the transaction, the director owned 74,578 shares of the company's stock, valued at approximately $47,903,686.74. The trade was a 2.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Eli Lilly and Company Price Performance

Shares of LLY stock traded up $4.28 during midday trading on Tuesday, reaching $639.50. 6,870,200 shares of the company traded hands, compared to its average volume of 4,094,222. The firm's 50 day simple moving average is $771.87 and its two-hundred day simple moving average is $798.30. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The firm has a market cap 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 (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the previous year, the firm posted $3.92 EPS. The company's quarterly revenue was up 37.6% compared to the same quarter last year. On average, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 39.22%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a research report on Monday. Morgan Stanley restated an "overweight" rating and issued 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 upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. One 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 stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average price target of $977.65.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LLY. PNC Financial Services Group Inc. grew its stake in shares of Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after buying an additional 50,002,551 shares during the period. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company's stock worth $62,680,004,000 after buying an additional 1,183,038 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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 worth $10,495,261,000 after buying an additional 81,587 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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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