Eli Lilly and (NYSE:LLY) Given New $500.00 Price Target at Bank of America

Eli Lilly and (NYSE:LLY – Get Rating) had its price target raised by Bank of America from $450.00 to $500.00 in a research report released on Wednesday, The Fly reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. BMO Capital Markets boosted their price target on shares of Eli Lilly and from $430.00 to $505.00 in a research note on Thursday, May 4th. Morgan Stanley upped their target price on shares of Eli Lilly and from $478.00 to $507.00 in a research note on Monday, May 15th. Societe Generale downgraded shares of Eli Lilly and from a hold rating to a sell rating and set a $278.00 target price on the stock. in a research note on Wednesday, February 15th. Guggenheim dropped their target price on shares of Eli Lilly and from $395.00 to $392.00 and set a buy rating on the stock in a research note on Tuesday, April 11th. Finally, Cantor Fitzgerald upped their target price on shares of Eli Lilly and from $432.00 to $485.00 in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $422.19.

Eli Lilly and Trading Up 0.6 %

NYSE:LLY opened at $425.77 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.67. Eli Lilly and has a 12 month low of $283.11 and a 12 month high of $454.95. The company has a market cap of $404.17 billion, a PE ratio of 67.69, a price-to-earnings-growth ratio of 2.31 and a beta of 0.37. The company has a 50 day simple moving average of $384.19 and a two-hundred day simple moving average of $361.65.

Eli Lilly and (NYSE:LLY – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.87 billion. Eli Lilly and had a net margin of 20.54% and a return on equity of 61.42%. The company’s revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.62 EPS. Research analysts forecast that Eli Lilly and will post 8.78 earnings per share for the current year.

Eli Lilly and Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Monday, May 15th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $4.52 annualized dividend and a dividend yield of 1.06%. Eli Lilly and’s dividend payout ratio (DPR) is presently 71.86%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 200,000 shares of the firm’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $335.82, for a total transaction of $67,164,000.00. Following the sale, the insider now owns 102,748,810 shares in the company, valued at $34,505,105,374.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Lilly Endowment Inc sold 200,000 shares of the firm’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $335.82, for a total transaction of $67,164,000.00. Following the sale, the insider now owns 102,748,810 shares in the company, valued at $34,505,105,374.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 600 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $435.29, for a total transaction of $261,174.00. Following the sale, the chief accounting officer now owns 5,978 shares in the company, valued at approximately $2,602,163.62. The disclosure for this sale can be found here. Insiders sold a total of 1,303,605 shares of company stock valued at $497,320,473 over the last 90 days. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and

Institutional investors have recently modified their holdings of the stock. Old North State Trust LLC boosted its position in Eli Lilly and by 1.9% during the first quarter. Old North State Trust LLC now owns 7,459 shares of the company’s stock worth $2,562,000 after acquiring an additional 141 shares during the last quarter. Verity Asset Management Inc. raised its stake in Eli Lilly and by 102.1% during the first quarter. Verity Asset Management Inc. now owns 1,334 shares of the company’s stock worth $458,000 after purchasing an additional 674 shares during the period. Toroso Investments LLC raised its stake in Eli Lilly and by 12.7% during the first quarter. Toroso Investments LLC now owns 21,608 shares of the company’s stock worth $7,421,000 after purchasing an additional 2,437 shares during the period. 3Chopt Investment Partners LLC purchased a new position in Eli Lilly and during the first quarter worth about $806,000. Finally, Front Row Advisors LLC raised its stake in Eli Lilly and by 3.9% during the first quarter. Front Row Advisors LLC now owns 1,408 shares of the company’s stock worth $484,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 82.13% of the company’s stock.

About Eli Lilly and

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Eli Lilly & Co engages in the discovery, development, manufacture, and sale of pharmaceutical products. The firm’s products consist of diabetes, oncology, immunology, neuroscience, and other products and therapies. The company was founded by Eli Lilly in May 1876 and is headquartered in Indianapolis, IN.