Berenberg Bank Increases Eli Lilly and Company (NYSE:LLY) Price Target to $1,050.00

Eli Lilly and Company (NYSE:LLY) had its price objective lifted by Berenberg Bank from $1,000.00 to $1,050.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an overweight rating in a report on Friday, August 9th. Bank of America boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a buy rating in a research report on Friday, August 9th. Morgan Stanley reaffirmed an overweight rating and issued a $1,023.00 target price on shares of Eli Lilly and Company in a research report on Friday, July 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a hold rating to a buy rating and boosted their price target for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. Finally, Cantor Fitzgerald restated an overweight rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $956.88.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $922.12 on Wednesday. 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 firm has a market cap of $876.39 billion, a P/E ratio of 135.81, a P/E/G ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $966.10. The firm has a 50-day moving average of $878.93 and a 200-day moving average of $805.16.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock worth $1,066,841,316 in the last three months. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently modified their holdings of LLY. Tidemark LLC bought a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $29,000. Core Wealth Advisors Inc. grew 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 valued at $29,000 after acquiring an additional 32 shares during the period. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company in the 2nd quarter worth $36,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at $37,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.