BMO Capital Markets Increases Eli Lilly and Company (NYSE:LLY) Price Target to $1,101.00

Eli Lilly and Company (NYSE:LLY) had its target price raised by BMO Capital Markets from $1,001.00 to $1,101.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

LLY has been the subject of a number of other reports. Argus boosted their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a buy rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an overweight rating in a report on Thursday, July 11th. Berenberg Bank raised their price target on Eli Lilly and Company from $850.00 to $1,000.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Guggenheim lifted their price target on Eli Lilly and Company from $855.00 to $884.00 and gave the stock a buy rating in a research report on Monday, August 5th. Finally, Barclays increased their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $916.53.

Eli Lilly and Company Stock Up 5.5 %

LLY stock traded up $46.37 during midday trading on Friday, reaching $891.68. 6,587,628 shares of the company were exchanged, compared to its average volume of 3,089,428. The company has a market cap of $847.46 billion, a price-to-earnings ratio of 131.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $966.10. The stock’s 50-day simple moving average is $871.07 and its 200 day simple moving average is $795.47.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction 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 owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated 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 owns 96,943,810 shares of the company’s stock, valued at approximately $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. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently modified their holdings of the company. Twelve Points Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after purchasing an additional 11 shares during the last quarter. Verum Partners LLC lifted its position in Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after buying an additional 11 shares during the period. Acorn Creek Capital LLC boosted its stake in Eli Lilly and Company by 1.3% in the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after buying an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. grew its holdings in Eli Lilly and Company by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after buying an additional 12 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after acquiring an additional 13 shares during the last quarter. 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.