Eli Lilly and Company (NYSE:LLY) Trading 2% Higher After Analyst Upgrade

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price traded up 2% during trading on Wednesday after Argus raised their price target on the stock from $770.00 to $840.00. Argus currently has a buy rating on the stock. Eli Lilly and Company traded as high as $778.78 and last traded at $778.16. 717,432 shares were traded during trading, a decline of 76% from the average session volume of 3,009,499 shares. The stock had previously closed at $762.68.

Other equities research analysts have also recently issued research reports about the company. DZ Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating and set a $820.00 target price on the stock. in a report on Wednesday, February 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $885.00 target price (up previously from $815.00) on shares of Eli Lilly and Company in a report on Tuesday, April 30th. Truist Financial increased their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. BMO Capital Markets raised their price objective on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an "outperform" rating in a report on Wednesday, May 1st. Finally, Erste Group Bank upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average target price of $769.53.

Institutional Investors Weigh In On Eli Lilly and Company

A number of large investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company's stock worth $573,000 after acquiring an additional 13 shares during the last quarter. Moseley Investment Management Inc. grew its stake in shares of Eli Lilly and Company by 0.4% during the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company's stock valued at $3,027,000 after purchasing an additional 14 shares during the last quarter. CGN Advisors LLC raised its position in Eli Lilly and Company by 1.4% in the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company's stock worth $779,000 after purchasing an additional 14 shares during the last quarter. Twin Peaks Wealth Advisors LLC lifted its holdings in Eli Lilly and Company by 2.0% during the 1st quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company's stock worth $559,000 after buying an additional 14 shares in the last quarter. Finally, Pitti Group Wealth Management LLC lifted its holdings in Eli Lilly and Company by 0.8% during the 1st quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company's stock worth $1,271,000 after buying an additional 14 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

The firm has a fifty day simple moving average of $760.53 and a 200-day simple moving average of $681.53. The stock has a market cap of $748.20 billion, a price-to-earnings ratio of 114.55, a P/E/G ratio of 1.50 and a beta of 0.37. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share. Analysts forecast that Eli Lilly and Company will post 13.82 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, May 15th. Eli Lilly and Company's payout ratio is presently 76.58%.

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.