Eli Lilly and Company’s (LLY) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a research report sent to investors on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $885.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Argus raised their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a buy rating in a research note on Tuesday, May 14th. BMO Capital Markets lifted their target price on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Truist Financial increased their price target 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. JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their target price on shares of 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 research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $812.72.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $901.26 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $909.42. The firm’s 50 day moving average is $804.54 and its two-hundred day moving average is $734.18. The firm has a market capitalization of $856.57 billion, a P/E ratio of 132.73, a P/E/G ratio of 1.97 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same period last year, the business earned $1.62 EPS. Eli Lilly and Company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Research analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 789,704 shares of company stock worth $672,385,964. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Large investors have recently bought and sold shares of the stock. Simon Quick Advisors LLC raised its stake in Eli Lilly and Company by 10.5% in the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after purchasing an additional 278 shares during the last quarter. Independent Advisor Alliance raised its position in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after buying an additional 544 shares during the last quarter. Apexium Financial LP lifted its stake in shares of Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after buying an additional 10,842 shares during the period. Clear Harbor Asset Management LLC purchased a new stake in Eli Lilly and Company in the 4th quarter worth approximately $363,000. Finally, Terril Brothers Inc. grew its stake in Eli Lilly and Company by 113.2% in the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after acquiring an additional 429 shares during the period. Institutional investors and hedge funds 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.