Eli Lilly and Company (NYSE:LLY) Shares Down 0.1% – Here’s Why

Eli Lilly and Company (NYSE:LLY)’s share price was down 0.1% on Friday . The stock traded as low as $747.33 and last traded at $749.47. Approximately 1,009,627 shares traded hands during trading, a decline of 68% from the average daily volume of 3,179,808 shares. The stock had previously closed at $749.92.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Truist Financial boosted their target price 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 note on Thursday, October 10th. Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Wolfe Research began 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 target on the stock. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Trading Down 0.6 %

The firm has a market capitalization of $707.89 billion, a PE ratio of 81.02, a P/E/G ratio of 2.76 and a beta of 0.43. The firm has a 50 day simple moving average of $868.53 and a 200 day simple moving average of $869.14. 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the stock. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company in the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Finally, Cedar Mountain Advisors LLC boosted its position in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. 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.