Eli Lilly and Company (NYSE:LLY) Shares Down 0.2% – What’s Next?

Eli Lilly and Company (NYSE:LLY) was down 0.2% during trading on Wednesday . The stock traded as low as $764.30 and last traded at $772.00. Approximately 2,321,953 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 3,211,798 shares. The stock had previously closed at $773.84.

Analysts Set New Price Targets

LLY has been the subject of several research reports. Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price target 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 report on Monday, November 4th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Citigroup lifted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Price Performance

The stock has a fifty day moving average of $796.03 and a two-hundred day moving average of $864.45. The stock has a market capitalization of $738.63 billion, a price-to-earnings ratio of 84.12, a PEG ratio of 2.99 and a beta of 0.41. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. As a group, equities research analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

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

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently bought and sold shares of LLY. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at about $30,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company during the second quarter worth about $36,000. Cedar Mountain Advisors LLC grew its position 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 buying an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its stake in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares during the last quarter. 82.53% of the stock is owned by 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.