Eli Lilly and Company (NYSE:LLY) Stock Price Up 0.2% – Still a Buy?

Eli Lilly and Company (NYSE:LLY)’s stock price rose 0.2% during mid-day trading on Monday . The company traded as high as $799.78 and last traded at $790.67. Approximately 752,341 shares traded hands during trading, a decline of 76% from the average daily volume of 3,194,809 shares. The stock had previously closed at $789.12.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Down 1.3 %

The company has a market cap of $739.52 billion, a P/E ratio of 85.48, a P/E/G ratio of 3.02 and a beta of 0.41. The company’s 50-day moving average is $833.49 and its two-hundred day moving average is $871.50. 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 released its quarterly earnings data 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 the consensus estimate 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 quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, equities analysts predict that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.77%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

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

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds have recently modified their holdings of the business. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the third quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $30,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company during the second quarter valued at approximately $36,000. Cedar Mountain Advisors LLC boosted its position in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the period. Finally, Morton Brown Family Wealth LLC increased its stake in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares in 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.