Eli Lilly and Company (NYSE:LLY) Trading Up 1% Following Strong Earnings

Eli Lilly and Company (NYSE:LLY) shares traded up 1% during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $775.00 and last traded at $774.21. 894,212 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 3,064,333 shares. The stock had previously closed at $766.68.

The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same period last year, the company posted $1.62 earnings per share. The company’s quarterly revenue was up 26.0% compared to the same quarter last year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LLY shares. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Truist Financial upped their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Bank of America lifted their price target on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective (up from $815.00) on shares of Eli Lilly and Company in a research note on Tuesday, April 30th. Finally, Barclays lifted their target price on Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $757.95.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $5,992,890,000. International Assets Investment Management LLC grew its position in Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after acquiring an additional 7,330,815 shares during the period. Sapient Capital LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $682,139,000. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Eli Lilly and Company in the third quarter valued at $435,736,000. Finally, Vanguard Group Inc. grew its holdings in shares of Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 1.4 %

The stock has a market capitalization of $739.20 billion, a price-to-earnings ratio of 114.55, a P/E/G ratio of 1.45 and a beta of 0.37. The business has a 50-day moving average of $761.22 and a 200-day moving average of $674.88. 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 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.