Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.6% – What’s Next?

Shares of Eli Lilly and Company (NYSE:LLY) dropped 0.6% on Tuesday . The company traded as low as $767.25 and last traded at $768.83. Approximately 348,052 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 3,203,719 shares. The stock had previously closed at $773.84.

Wall Street Analysts Forecast Growth

Several analysts have commented on LLY shares. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Down 0.2 %

The business’s 50 day simple moving average is $798.30 and its 200 day simple moving average is $865.06. The company has a market capitalization of $732.87 billion, a PE ratio of 83.46, a P/E/G ratio of 2.99 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced 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 business had revenue of $11.44 billion during 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 earned $0.10 EPS. As a group, analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. Eli Lilly and Company’s payout ratio is presently 64.86%.

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

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now directly 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 document filed with the SEC, which is available at this link. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Lantz Financial LLC raised its stake in Eli Lilly and Company by 1.3% during the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock valued at $1,119,000 after acquiring an additional 16 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Eli Lilly and Company by 35.3% in the 2nd quarter. Fiera Capital Corp now owns 22,648 shares of the company’s stock valued at $20,505,000 after buying an additional 5,908 shares during the period. Magnus Financial Group LLC boosted its stake in shares of Eli Lilly and Company by 9.4% in the second quarter. Magnus Financial Group LLC now owns 6,081 shares of the company’s stock valued at $5,506,000 after buying an additional 525 shares in the last quarter. Naviter Wealth LLC grew its holdings in Eli Lilly and Company by 4.8% during the second quarter. Naviter Wealth LLC now owns 4,525 shares of the company’s stock worth $4,097,000 after acquiring an additional 207 shares during the period. Finally, Oxinas Partners Wealth Management LLC raised its position in Eli Lilly and Company by 4.5% in the second quarter. Oxinas Partners Wealth Management LLC now owns 534 shares of the company’s stock worth $484,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds 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.