Eli Lilly and Company’s (LLY) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $1,106.00 price target on the stock.

A number of other equities research analysts also recently commented on the company. Jefferies Financial Group boosted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a buy rating in a research report on Monday, June 24th. BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an outperform rating in a research note on Friday, August 9th. Barclays boosted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a hold rating to a buy rating and boosted their price objective for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Finally, Truist Financial reissued a buy rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $961.76.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $940.92 on Tuesday. 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 company has a market capitalization of $894.26 billion, a P/E ratio of 138.57, a P/E/G ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The business’s 50-day moving average is $890.04 and its 200 day moving average is $819.14.

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 issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $5,842,821.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 192,794 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $829.77, for a total transaction of $159,974,677.38. Following the completion of the sale, the insider now owns 98,208,810 shares in the company, valued at $81,490,724,273.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s 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 sale, the chief accounting officer now 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. Over the last quarter, insiders sold 1,097,883 shares of company stock worth $972,022,568. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Hedge funds have recently bought and sold shares of the stock. Tidemark LLC purchased a new stake in Eli Lilly and Company during the fourth quarter worth $29,000. Core Wealth Advisors Inc. lifted its holdings 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 purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $37,000. Hedge funds and other 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.