Brokerages Set Eli Lilly and Company (NYSE:LLY) PT at $1,002.22

Eli Lilly and Company (NYSE:LLY) has been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $1,002.22.

A number of equities research analysts recently issued reports on the company. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup increased their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Wolfe Research initiated 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 target price for the company.

Eli Lilly and Company Stock Performance

LLY opened at $781.98 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $609.59 and a 12-month high of $972.53. The business has a 50 day moving average of $796.03 and a 200-day moving average of $864.45. The stock has a market cap of $742.35 billion, a price-to-earnings ratio of 84.54, a PEG ratio of 2.99 and a beta of 0.41.

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 analysts’ consensus estimates of $1.52 by ($0.34). The company 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 firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. On average, equities research analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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 given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change 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 64.86%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $30,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company during the second quarter worth approximately $36,000. Cedar Mountain Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the period. 82.53% of the stock is owned by institutional investors.

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.