Eli Lilly and Company (NYSE:LLY) Trading Down 0.6%

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares traded down 0.6% during mid-day trading on Tuesday . The company traded as low as $751.52 and last traded at $753.21. 606,139 shares were traded during trading, a decline of 80% from the average session volume of 3,019,774 shares. The stock had previously closed at $757.70.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LLY. Bank of America lifted their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. JPMorgan Chase & Co. boosted their price target 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. Truist Financial lifted their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the company a "buy" rating in a research report on Wednesday, May 1st. Wells Fargo & Company raised their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the company an "overweight" rating in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group increased their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $769.53.

Eli Lilly and Company Trading Up 0.8 %

The firm has a market cap of $726.01 billion, a price-to-earnings ratio of 112.34, a P/E/G ratio of 1.50 and a beta of 0.37. The firm's 50-day moving average is $760.79 and its 200-day moving average is $680.10. 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 issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.94 billion. During the same period last year, the business earned $1.62 EPS. The business's revenue was up 26.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 13.82 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 Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, May 15th. Eli Lilly and Company's dividend payout ratio is 76.58%.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Vanguard Group Inc. boosted its position in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company's stock valued at $56,592,709,000 after buying an additional 1,133,810 shares during the period. Capital World Investors grew its holdings in shares of Eli Lilly and Company by 0.3% in the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company's stock worth $15,709,466,000 after purchasing an additional 89,720 shares during the last quarter. Morgan Stanley grew its holdings in Eli Lilly and Company by 0.7% in the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company's stock worth $6,738,605,000 after acquiring an additional 83,915 shares during the last quarter. Norges Bank bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $5,992,890,000. Finally, Northern Trust Corp boosted its holdings in shares of Eli Lilly and Company by 3.6% during the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company's stock worth $5,456,314,000 after purchasing an additional 355,317 shares during the period. Institutional investors 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.