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

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

Wall Street Analyst Weigh In

LLY has been the topic of several research analyst reports. Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Barclays dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Citigroup raised 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 report on Friday, October 25th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Down 0.1 %

The firm has a market cap of $755.35 billion, a price-to-earnings ratio of 86.02, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. 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 firm has a 50-day moving average price of $813.88 and a two-hundred day moving average price of $868.83.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. On average, sell-side 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost 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 (DPR) is 56.22%.

Eli Lilly and Company declared that its Board of Directors has authorized a stock buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is 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 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 completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently modified their holdings of LLY. Independent Solutions Wealth Management LLC boosted its holdings in Eli Lilly and Company by 6.0% in the third quarter. Independent Solutions Wealth Management LLC now owns 872 shares of the company’s stock worth $773,000 after purchasing an additional 49 shares during the period. SMART Wealth LLC acquired a new stake in Eli Lilly and Company in the third quarter worth $457,000. Exome Asset Management LLC boosted its holdings in shares of Eli Lilly and Company by 7.7% during the third quarter. Exome Asset Management LLC now owns 10,447 shares of the company’s stock valued at $9,255,000 after acquiring an additional 747 shares during the period. DGS Capital Management LLC boosted its stake in Eli Lilly and Company by 7.2% during the 3rd quarter. DGS Capital Management LLC now owns 5,239 shares of the company’s stock valued at $4,641,000 after purchasing an additional 350 shares during the period. Finally, Garden State Investment Advisory Services LLC raised its holdings in shares of Eli Lilly and Company by 16.4% during the third quarter. Garden State Investment Advisory Services LLC now owns 2,634 shares of the company’s stock valued at $2,338,000 after buying an additional 372 shares during 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.