Eli Lilly and Company (NYSE:LLY) Trading Up 0.9% – What’s Next?

Shares of Eli Lilly and Company (NYSE:LLY) were up 0.9% during mid-day trading on Wednesday . The stock traded as high as $846.10 and last traded at $833.62. Approximately 1,557,274 shares traded hands during trading, a decline of 58% from the average daily volume of 3,723,011 shares. The stock had previously closed at $826.07.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LLY. Barclays dropped their target price 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. Sanford C. Bernstein initiated 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. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Citigroup decreased their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company cut their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Performance

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 of $785.46 and a 200-day moving average of $843.28. The stock has a market capitalization of $802.28 billion, a PE ratio of 91.36, a P/E/G ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.71%. 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. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC boosted its position in shares of Eli Lilly and Company by 27.9% during the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after acquiring an additional 110 shares in the last quarter. AMF Tjanstepension AB boosted its stake in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after purchasing an additional 176,552 shares in the last quarter. Czech National Bank lifted its holdings in Eli Lilly and Company by 5.6% during the 3rd quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after purchasing an additional 8,566 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its stake in Eli Lilly and Company by 11.3% in the third quarter. Azzad Asset Management Inc. ADV now owns 1,931 shares of the company’s stock worth $1,711,000 after purchasing an additional 196 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Eli Lilly and Company by 9.4% during the 3rd quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $867,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.