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

Eli Lilly and Company (NYSE:LLY) was down 0.2% on Thursday . The company traded as low as $791.50 and last traded at $794.01. Approximately 347,125 shares changed hands during trading, a decline of 89% from the average daily volume of 3,221,980 shares. The stock had previously closed at $795.67.

Analyst Ratings Changes

A number of research firms recently commented on LLY. Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective 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, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $743.48 billion, a price-to-earnings ratio of 84.67, a P/E/G ratio of 2.99 and a beta of 0.41. The stock’s 50 day moving average price is $806.31 and its 200 day moving average price is $867.23. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for 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 revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the company posted $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 company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. 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 permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are 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 stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Large investors have recently added to or reduced their stakes in the business. Lantz Financial LLC grew its position in shares of Eli Lilly and Company by 1.3% in the second quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock valued at $1,119,000 after purchasing an additional 16 shares during the last quarter. Heritage Family Offices LLP bought a new position in Eli Lilly and Company during the 2nd quarter worth $1,759,000. Searle & CO. lifted its holdings in shares of Eli Lilly and Company by 39.5% during the second quarter. Searle & CO. now owns 8,836 shares of the company’s stock worth $8,000,000 after buying an additional 2,504 shares in the last quarter. Sage Rhino Capital LLC boosted its position in shares of Eli Lilly and Company by 1.1% in the second quarter. Sage Rhino Capital LLC now owns 2,143 shares of the company’s stock valued at $1,940,000 after acquiring an additional 24 shares during the period. Finally, GGM Financials LLC acquired a new position in shares of Eli Lilly and Company in the second quarter valued at about $651,000. 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.