Eli Lilly and Company (NYSE:LLY) Trading 0.6% Higher – Time to Buy?

Eli Lilly and Company (NYSE:LLY) shares were up 0.6% during mid-day trading on Thursday . The stock traded as high as $883.50 and last traded at $878.59. Approximately 747,494 shares traded hands during trading, a decline of 80% from the average daily volume of 3,743,191 shares. The stock had previously closed at $872.97.

Analysts Set New Price Targets

Several analysts have recently issued reports on LLY shares. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Citigroup cut their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company cut their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Performance

The firm has a 50 day moving average price of $794.44 and a 200 day moving average price of $844.60. The stock has a market cap of $802.01 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. As a group, research analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.71%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 44.41%.

Eli Lilly and Company announced that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently added to or reduced their stakes in LLY. Prio Wealth Limited Partnership boosted its holdings in Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after acquiring an additional 11 shares in the last quarter. James Hambro & Partners LLP boosted its holdings in Eli Lilly and Company by 3.7% in the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock worth $301,000 after acquiring an additional 12 shares in the last quarter. Inscription Capital LLC boosted its holdings in Eli Lilly and Company by 1.0% in the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after acquiring an additional 12 shares in the last quarter. FWG Holdings LLC boosted its holdings in Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after acquiring an additional 12 shares in the last quarter. Finally, Morling Financial Advisors LLC boosted its holdings in Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock worth $205,000 after acquiring an additional 12 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.