Eli Lilly and Company (NYSE:LLY) Shares Down 0.1% – What’s Next?

Eli Lilly and Company (NYSE:LLY)’s share price fell 0.1% on Wednesday . The stock traded as low as $787.10 and last traded at $795.67. 1,165,383 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 3,233,713 shares. The stock had previously closed at $796.28.

Analyst Ratings Changes

A number of research analysts recently weighed in on LLY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Tuesday. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Truist Financial upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Down 0.2 %

The company has a market cap of $753.89 billion, a P/E ratio of 85.85, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a fifty day moving average of $809.01 and a 200 day moving average of $867.80.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 64.86%.

Eli Lilly and Company declared that its Board of Directors has authorized a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LLY. M&T Bank Corp raised its position in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after purchasing an additional 1,867 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in Eli Lilly and Company in the 3rd quarter worth $34,328,000. Essex Financial Services Inc. raised its holdings in Eli Lilly and Company by 5.8% during the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after acquiring an additional 1,556 shares during the period. Cumberland Partners Ltd lifted its position in shares of Eli Lilly and Company by 173.4% in the third quarter. Cumberland Partners Ltd now owns 21,984 shares of the company’s stock valued at $19,477,000 after acquiring an additional 13,942 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Eli Lilly and Company by 132.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 40,055 shares of the company’s stock valued at $35,486,000 after acquiring an additional 22,840 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.