Eli Lilly and Company (NYSE:LLY) Trading Down 0.2% – Time to Sell?

Eli Lilly and Company (NYSE:LLY)’s stock price was down 0.2% during trading on Friday . The stock traded as low as $862.00 and last traded at $868.56. Approximately 696,757 shares traded hands during trading, a decline of 81% from the average daily volume of 3,697,918 shares. The stock had previously closed at $870.36.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LLY. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Barclays decreased their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Trading Down 2.5 %

The company has a market cap of $805.53 billion, a PE ratio of 72.41, a PEG ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a 50 day simple moving average of $794.07 and a two-hundred day simple moving average of $844.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Sell-side analysts forecast that Eli Lilly and Company will post 23.33 EPS 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. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.71%. Eli Lilly and Company’s payout ratio is presently 44.41%.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares in the last quarter. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $8,407,908,000. Proficio Capital Partners LLC boosted its stake in Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP grew its holdings in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Finally, Capital International Investors increased its stake in Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after purchasing an additional 1,645,222 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.