Eli Lilly and Company (NYSE:LLY) Sees Strong Trading Volume After Strong Earnings

Shares of Eli Lilly and Company (NYSE:LLYGet Free Report) saw unusually-high trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 1,394,986 shares changed hands during mid-day trading, a decline of 54% from the previous session’s volume of 3,056,188 shares.The stock last traded at $892.47 and had previously closed at $845.31.

The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%.

Eli Lilly and Company Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LLY. Argus boosted their target price on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. Barclays boosted their target price on shares of 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. The Goldman Sachs Group boosted their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $888.11.

View Our Latest Report on LLY

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the sale, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company during the second quarter worth about $36,000. Lipe & Dalton purchased a new position in Eli Lilly and Company during the fourth quarter worth about $26,000. Morton Brown Family Wealth LLC raised its holdings in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares in the last quarter. Finally, Core Wealth Advisors Inc. raised its holdings in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 6.2 %

The stock has a market capitalization of $853.52 billion, a PE ratio of 131.78, a PEG ratio of 1.81 and a beta of 0.41. The firm’s fifty day moving average is $869.64 and its 200-day moving average is $792.50. 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 Company Profile

(Get Free Report)

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.

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