Insider Buying: Eli Lilly and Company (NYSE:LLY) Director Buys 200 Shares of Stock

Key Points

• Director Jamere Jackson of Eli Lilly purchased 200 shares at an average price of $639.56 each, increasing their ownership to 9,402 shares.
• The company's recent earnings report showed an EPS of $6.31, exceeding expectations, with a significant 37.6% year-over-year revenue growth to $15.56 billion.
• Eli Lilly declared a quarterly dividend of $1.50, with an annualized yield of 1.0%, to be paid on September 10th to shareholders of record.

Eli Lilly and Company (NYSE:LLY - Get Free Report) Director Jamere Jackson acquired 200 shares of Eli Lilly and Company stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the transaction, the director directly owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Eli Lilly and Company Trading Down 2.5%

Shares of NYSE LLY traded down $15.71 during midday trading on Friday, reaching $625.15. 14,089,857 shares of the stock were exchanged, compared to its average volume of 4,027,913. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53. The company has a market capitalization of $592.48 billion, a price-to-earnings ratio of 50.87, a P/E/G ratio of 1.06 and a beta of 0.44. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The business has a 50-day simple moving average of $776.36 and a two-hundred day simple moving average of $799.60.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results 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 22.67% and a return on equity of 85.51%. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the previous year, the firm posted $3.92 earnings per share. The business's revenue was up 37.6% on a year-over-year basis. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is presently 48.82%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Leerink Partners reiterated a "market perform" rating and issued a $715.00 price target on shares of Eli Lilly and Company in a research report on Thursday. Leerink Partnrs cut shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday. UBS Group dropped 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 report on Friday. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $990.89.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds have recently modified their holdings of the stock. Financial Gravity Companies Inc. acquired a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $31,000. Summitry LLC increased its holdings in shares of Eli Lilly and Company by 7.6% during the second quarter. Summitry LLC now owns 441 shares of the company's stock worth $344,000 after purchasing an additional 31 shares during the period. Alberta Investment Management Corp boosted its stake in shares of Eli Lilly and Company by 38.8% in the second quarter. Alberta Investment Management Corp now owns 17,900 shares of the company's stock valued at $13,954,000 after buying an additional 5,000 shares during the period. Kingsview Wealth Management LLC raised its holdings in Eli Lilly and Company by 4.1% in the 2nd quarter. Kingsview Wealth Management LLC now owns 72,284 shares of the company's stock valued at $56,348,000 after acquiring an additional 2,839 shares in the last quarter. Finally, Adapt Wealth Advisors LLC lifted its position in shares of Eli Lilly and Company by 2.1% during the 2nd quarter. Adapt Wealth Advisors LLC now owns 1,442 shares of the company's stock valued at $1,124,000 after acquiring an additional 30 shares during the period. Institutional investors own 82.53% of the company's stock.

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.

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