Eli Lilly and Company (NYSE:LLY) Stock Price Up 1% – Time to Buy?

Eli Lilly and Company (NYSE:LLY) shot up 1% during trading on Thursday . The company traded as high as $925.50 and last traded at $924.02. 1,003,913 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 3,685,422 shares. The stock had previously closed at $915.01.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent analyst reports. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Citigroup dropped their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reduced their price target 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, Wells Fargo & Company lowered their price objective 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. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Stock Performance

The business’s 50-day moving average price is $814.88 and its 200-day moving average price is $849.10. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market cap of $872.73 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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 85.24% and a net margin of 23.51%. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company 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 of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.65%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Eli Lilly and Company declared that its Board of Directors has approved a stock 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 purchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Eli Lilly and Company

Institutional investors have recently made changes to their positions in the business. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. FPC Investment Advisory Inc. lifted its position in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares in the last quarter. Finally, Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.