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

Shares of Eli Lilly and Company (NYSE:LLY) rose 1% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $775.00 and last traded at $774.21. Approximately 894,212 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 3,064,333 shares. The stock had previously closed at $766.68.

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

Eli Lilly and Company Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on LLY. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price (up previously from $815.00) on shares of Eli Lilly and Company in a research note on Tuesday, April 30th. DZ Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research note on Wednesday, February 21st. Truist Financial lifted their price objective 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. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Finally, BMO Capital Markets lifted their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

Institutional Trading of Eli Lilly and Company

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Eli Lilly and Company by 0.9% in the third 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. Capital World Investors increased its stake in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after acquiring an additional 89,720 shares in the last quarter. Morgan Stanley boosted its stake in Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after acquiring an additional 83,915 shares in the last quarter. Norges Bank purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $5,992,890,000. Finally, Northern Trust Corp increased its stake in shares of Eli Lilly and Company by 3.6% during the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock valued at $5,456,314,000 after purchasing an additional 355,317 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Up 1.4 %

The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $739.20 billion, a PE ratio of 114.55, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. The company’s fifty day moving average price is $761.22 and its 200-day moving average price is $674.88.

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.