Eli Lilly and Company (NYSE:LLY) Trading 1.7% Higher – What’s Next?

Eli Lilly and Company (NYSE:LLY) shares were up 1.7% during trading on Wednesday . The stock traded as high as $786.70 and last traded at $786.06. Approximately 960,078 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 2,422,880 shares. The stock had previously closed at $773.29.

Analyst Ratings Changes

Several research firms have weighed in on LLY. Citigroup boosted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted 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 report on Friday, September 13th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Trading Up 1.5 %

The firm’s fifty day moving average is $786.08 and its 200-day moving average is $860.02. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market cap of $758.87 billion, a price-to-earnings ratio of 86.42, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued 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 firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. 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 previous year, the company earned $0.10 earnings per share. Equities analysts anticipate 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 disclosed 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 represents a $6.00 annualized dividend and a dividend yield of 0.75%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 64.86%.

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

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’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 directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was 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 Trading of Eli Lilly and Company

Large investors have recently bought and sold shares of the stock. Graypoint LLC lifted its holdings in Eli Lilly and Company by 4.6% during the fourth quarter. Graypoint LLC now owns 8,700 shares of the company’s stock valued at $6,716,000 after purchasing an additional 381 shares in the last quarter. RMR Wealth Builders lifted its stake in Eli Lilly and Company by 2.3% in the 4th quarter. RMR Wealth Builders now owns 4,686 shares of the company’s stock worth $3,618,000 after purchasing an additional 107 shares in the last quarter. HBW Advisory Services LLC lifted its position in Eli Lilly and Company by 2.7% during the fourth quarter. HBW Advisory Services LLC now owns 1,625 shares of the company’s stock worth $1,254,000 after buying an additional 42 shares in the last quarter. Jacobs & Co. CA boosted its position in shares of Eli Lilly and Company by 35.2% during the 4th quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock valued at $22,690,000 after acquiring an additional 7,646 shares during the last quarter. Finally, LVM Capital Management Ltd. MI grew its stake in shares of Eli Lilly and Company by 31.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 48,562 shares of the company’s stock valued at $37,490,000 after buying an additional 11,534 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.