Eli Lilly and Company (NYSE:LLY) Stock Price Down 3.3% – Time to Sell?

Eli Lilly and Company (NYSE:LLY)’s share price traded down 3.3% on Friday . The company traded as low as $750.68 and last traded at $760.59. 2,343,248 shares were traded during mid-day trading, a decline of 25% from the average session volume of 3,115,656 shares. The stock had previously closed at $786.23.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LLY shares. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped 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 report on Monday, November 4th. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Stock Down 4.3 %

The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a 50-day simple moving average of $885.79 and a 200-day simple moving average of $869.71. The firm has a market capitalization of $713.93 billion, a PE ratio of 82.23, a P/E/G ratio of 3.07 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. Analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several institutional investors and hedge funds have recently bought and sold shares of LLY. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at about $30,000. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the second quarter worth about $36,000. Finally, Morton Brown Family Wealth LLC increased its position in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.