Eli Lilly and Company (NYSE:LLY) Trading 0.1% Higher Following Analyst Upgrade

Eli Lilly and Company (NYSE:LLY) was up 0.1% during trading on Tuesday after Truist Financial raised their price target on the stock from $1,029.00 to $1,038.00. Truist Financial currently has a buy rating on the stock. Eli Lilly and Company traded as high as $814.50 and last traded at $811.29. Approximately 716,611 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,657,302 shares. The stock had previously closed at $810.43.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Barclays lowered their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $182,000. Moisand Fitzgerald Tamayo LLC raised its position in shares of Eli Lilly and Company by 10.9% in the fourth quarter. Moisand Fitzgerald Tamayo LLC now owns 194 shares of the company’s stock worth $150,000 after acquiring an additional 19 shares during the period. Partners Wealth Management LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $2,329,000. Black Diamond Financial LLC raised its holdings in Eli Lilly and Company by 42.7% in the 4th quarter. Black Diamond Financial LLC now owns 2,210 shares of the company’s stock worth $1,706,000 after purchasing an additional 661 shares during the period. Finally, BCGM Wealth Management LLC grew its holdings in Eli Lilly and Company by 14.2% in the fourth quarter. BCGM Wealth Management LLC now owns 4,700 shares of the company’s stock valued at $3,628,000 after purchasing an additional 585 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.0 %

The firm has a market capitalization of $769.57 billion, a price-to-earnings ratio of 87.64, a P/E/G ratio of 1.72 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a 50 day moving average price of $783.56 and a two-hundred day moving average price of $843.75.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.