Brokerages Set Eli Lilly and Company (NYSE:LLY) Price Target at $1,002.22

Eli Lilly and Company (NYSE:LLY) has earned an average recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $997.22.

Several research analysts have commented on LLY shares. Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th.

Eli Lilly and Company Trading Down 0.4 %

NYSE LLY opened at $804.87 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52 week low of $637.00 and a 52 week high of $972.53. The stock has a market capitalization of $764.08 billion, a PE ratio of 87.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The firm has a 50 day moving average of $778.30 and a two-hundred day moving average of $847.30.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the firm earned $0.10 EPS. The company’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts expect that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC lifted its holdings in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the period. Finally, West Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth about $58,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.