Eli Lilly and Company (NYSE:LLY – Free Report) had its price target reduced by Wells Fargo & Company from $1,000.00 to $970.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.
A number of other equities analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on 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. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Barclays reduced their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $997.22.
Read Our Latest Stock Analysis on LLY
Eli Lilly and Company Price Performance
Eli Lilly and Company (NYSE:LLY – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.
Eli Lilly and Company announced that its Board of Directors has approved 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 reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Eli Lilly and Company Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is 56.22%.
Insider Buying and Selling at Eli Lilly and Company
In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Eli Lilly and Company
A number of large investors have recently made changes to their positions in LLY. Algert Global LLC boosted its position in Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after purchasing an additional 110 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Eli Lilly and Company by 4.2% in the 2nd quarter. Pathway Financial Advisers LLC now owns 1,101 shares of the company’s stock worth $982,000 after buying an additional 44 shares in the last quarter. Advisory Alpha LLC grew its stake in Eli Lilly and Company by 6.5% in the 2nd quarter. Advisory Alpha LLC now owns 3,208 shares of the company’s stock valued at $2,905,000 after acquiring an additional 195 shares during the last quarter. Ted Buchan & Co purchased a new position in Eli Lilly and Company during the 2nd quarter valued at about $1,780,000. Finally, Granite Bay Wealth Management LLC acquired a new position in Eli Lilly and Company during the second quarter worth about $323,000. Hedge funds and other institutional investors 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.
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