Eli Lilly and Company (NYSE:LLY) Trading 2.6% Higher Following Strong Earnings

Eli Lilly and Company (NYSE:LLY - Get Free Report) traded up 2.6% during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $754.42 and last traded at $754.36. 950,304 shares were traded during trading, a decline of 69% from the average session volume of 3,061,418 shares. The stock had previously closed at $734.97.

The company reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. The company's revenue was up 26.0% compared to the same quarter last year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.68%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 76.58%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LLY shares. JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 1st. Bank of America boosted their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a "buy" rating in a research report on Friday, March 1st. DZ Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating and set a $820.00 target price on the stock. in a research report on Wednesday, February 21st. Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 6th. Finally, Truist Financial boosted their target price on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a "buy" rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $757.95.

Institutional Trading of Eli Lilly and Company

A number of large investors have recently made changes to their positions in the company. Lipe & Dalton purchased a new position in Eli Lilly and Company in the fourth quarter valued at $26,000. Thompson Investment Management Inc. purchased a new stake in Eli Lilly and Company during the third quarter worth approximately $27,000. Tidemark LLC acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $29,000. Core Wealth Advisors Inc. lifted its position in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company's stock worth $29,000 after buying an additional 32 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at $36,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

The company's 50 day moving average is $760.96 and its 200 day moving average is $673.52. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $728.72 billion, a price-to-earnings ratio of 112.92, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37.

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.