Eli Lilly and Company (NYSE:LLY) Trading Down 0.1% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) shares traded down 0.1% during trading on Friday . The stock traded as low as $784.86 and last traded at $786.28. 955,202 shares traded hands during trading, a decline of 63% from the average session volume of 2,607,299 shares. The stock had previously closed at $787.22.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup boosted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Truist Financial boosted their price target on 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. 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 objective for the company. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Price Performance

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a fifty day simple moving average of $786.08 and a 200-day simple moving average of $859.70. The company has a market capitalization of $758.87 billion, a price-to-earnings ratio of 86.42, a P/E/G ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the company posted $0.10 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared 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. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Eli Lilly and Company announced that its board has approved a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated 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 in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several large investors have recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC boosted its holdings in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC grew 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 valued at $41,000 after purchasing an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other 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.