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

Eli Lilly and Company (NYSE:LLY)’s share price traded down 0.2% on Wednesday . The stock traded as low as $768.00 and last traded at $777.00. 813,131 shares were traded during trading, a decline of 75% from the average session volume of 3,199,132 shares. The stock had previously closed at $778.62.

Wall Street Analyst Weigh In

A number of research firms recently commented on LLY. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Performance

The company’s 50 day simple moving average is $828.39 and its 200 day simple moving average is $870.95. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market cap of $734.53 billion, a PE ratio of 83.65, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate 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 revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. Analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm 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. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

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

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. 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 company insiders.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth approximately $30,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company during the 2nd quarter valued at $36,000. Cedar Mountain Advisors LLC grew its position in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares in the last quarter. Finally, Morton Brown Family Wealth LLC raised its stake in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the period. 82.53% of the stock is currently owned by 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.