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

Shares of Eli Lilly and Company (NYSE:LLY) fell 0.2% during mid-day trading on Wednesday . The stock traded as low as $780.30 and last traded at $787.82. 696,068 shares changed hands during trading, a decline of 78% from the average session volume of 3,208,198 shares. The stock had previously closed at $789.32.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent research reports. Barclays lowered their price objective 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 upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Berenberg Bank boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Bank of America dropped their price target on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, 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 on the stock in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Down 0.0 %

The firm has a 50 day simple moving average of $859.30 and a 200-day simple moving average of $870.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a market cap of $749.13 billion, a P/E ratio of 85.17, a price-to-earnings-growth ratio of 2.86 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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). 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 return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 13.2 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.66%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’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 completion of the transaction, 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 is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LLY. Jacobs Levy Equity Management Inc. raised its stake in shares of Eli Lilly and Company by 357.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 11,074 shares of the company’s stock valued at $8,615,000 after buying an additional 8,651 shares during the period. Coppell Advisory Solutions Corp. bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at about $252,000. Semmax Financial Advisors Inc. increased its position in shares of Eli Lilly and Company by 89.2% in the first quarter. Semmax Financial Advisors Inc. now owns 157 shares of the company’s stock worth $119,000 after purchasing an additional 74 shares during the last quarter. XML Financial LLC raised its stake in Eli Lilly and Company by 17.4% in the first quarter. XML Financial LLC now owns 1,758 shares of the company’s stock valued at $1,367,000 after purchasing an additional 261 shares in the last quarter. Finally, National Wealth Management Group LLC lifted its position in Eli Lilly and Company by 163.6% during the first quarter. National Wealth Management Group LLC now owns 1,189 shares of the company’s stock valued at $925,000 after purchasing an additional 738 shares during the last quarter. 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.