Wells Fargo & Company Boosts Eli Lilly and Company (NYSE:LLY) Price Target to $825.00

Eli Lilly and Company (NYSE:LLYFree Report) had its price target increased by Wells Fargo & Company from $700.00 to $825.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also issued reports on LLY. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, November 9th. They issued a hold rating and a $535.00 target price on the stock. Cantor Fitzgerald reissued an overweight rating and issued a $630.00 price target on shares of Eli Lilly and Company in a report on Thursday, February 1st. Citigroup increased their price target on shares of Eli Lilly and Company from $525.00 to $675.00 and gave the company a buy rating in a report on Monday, October 23rd. Truist Financial reaffirmed a buy rating and set a $650.00 price objective on shares of Eli Lilly and Company in a report on Wednesday, November 29th. Finally, TheStreet downgraded shares of Eli Lilly and Company from a b rating to a c+ rating in a report on Monday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of Moderate Buy and an average target price of $621.81.

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Eli Lilly and Company Stock Performance

Shares of LLY opened at $740.16 on Tuesday. The company’s fifty day moving average is $620.02 and its 200-day moving average is $580.17. Eli Lilly and Company has a 12 month low of $309.20 and a 12 month high of $745.70. The firm has a market cap of $702.64 billion, a price-to-earnings ratio of 127.61, a price-to-earnings-growth ratio of 2.06 and a beta of 0.32. The company has a quick ratio of 0.82, a current ratio of 1.05 and a debt-to-equity ratio of 1.59.

Eli Lilly and Company (NYSE:LLYGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 50.78%. The business had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period last year, the business posted $2.09 EPS. Eli Lilly and Company’s revenue was up 28.1% compared to the same quarter last year. Equities analysts expect that Eli Lilly and Company will post 12.6 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Thursday, February 15th will be paid a dividend of $1.30 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, February 14th. This represents a $5.20 annualized dividend and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 77.93%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 14,388 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $630.28, for a total value of $9,068,468.64. Following the sale, the insider now owns 99,754,422 shares of the company’s stock, valued at $62,873,217,098.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 195,055 shares of company stock valued at $125,254,657. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently modified their holdings of the stock. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at $26,000. Thompson Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the third quarter valued at about $27,000. Retirement Group LLC grew its stake in shares of Eli Lilly and Company by 159.1% in the second quarter. Retirement Group LLC now owns 57 shares of the company’s stock valued at $27,000 after acquiring an additional 35 shares in the last quarter. Tidemark LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $29,000. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Eli Lilly and Company in the second quarter valued at about $33,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

About Eli Lilly and Company

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Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

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