Eli Lilly and Company (NYSE:LLY) Stock Price Down 4.1% – What’s Next?

Eli Lilly and Company (NYSE:LLY)’s share price fell 4.1% on Monday . The company traded as low as $725.01 and last traded at $726.24. 5,497,108 shares traded hands during mid-day trading, an increase of 101% from the average session volume of 2,736,766 shares. The stock had previously closed at $757.60.

Analyst Ratings Changes

A number of brokerages have weighed in on LLY. Citigroup raised their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

The stock has a market cap of $689.43 billion, a price-to-earnings ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. The stock’s 50-day simple moving average is $781.14 and its two-hundred day simple moving average is $854.04. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last posted 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. Analysts forecast that Eli Lilly and Company will post 13.14 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. 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 yield of 0.83%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Eli Lilly and Company declared that its Board of Directors has approved a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently made changes to their positions in the business. CWA Asset Management Group LLC grew its holdings in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after acquiring an additional 724 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares in the last quarter. Cooper Financial Group boosted its position in shares of Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after acquiring an additional 695 shares during the period. Everence Capital Management Inc. grew its position in shares of Eli Lilly and Company by 3.2% during the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after purchasing an additional 690 shares in the last quarter. Finally, Jacobs & Co. CA increased its stake in Eli Lilly and Company by 35.2% in the 4th quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after acquiring an additional 7,646 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.