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

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

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an outperform rating in a research report on Friday, August 9th. 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. Berenberg Bank boosted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a buy rating in a research report on Wednesday, August 14th. Finally, Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a buy rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $956.88.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $921.81 on Monday. The business has a fifty day simple moving average of $880.04 and a two-hundred day simple moving average of $808.13. 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 capitalization of $876.09 billion, a P/E ratio of 135.76, 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 $966.10.

Eli Lilly and Company Dividend Announcement

The firm 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 is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the company’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 transaction of $614,602.50. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently modified their holdings of LLY. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $29,000. Core Wealth Advisors Inc. raised its holdings in 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 buying an additional 32 shares during the period. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company during the 2nd quarter valued at $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the 2nd quarter valued at $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company during the 4th quarter valued at $37,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.