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

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays lowered their price objective on 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. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company lowered their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America reaffirmed 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. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Trading Down 3.1 %

The stock has a 50 day moving average of $794.44 and a 200-day moving average of $844.60. The company has a market capitalization of $802.01 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.87 and a beta of 0.42. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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%. On average, research analysts predict 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. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.71%. Eli Lilly and Company’s payout ratio is 44.41%.

Eli Lilly and Company declared that its board has approved a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC lifted its holdings in Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares in the last quarter. M&T Bank Corp lifted its holdings in Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares in the last quarter. Kentucky Trust Co purchased a new position in Eli Lilly and Company in the 4th quarter worth approximately $834,000. Cooper Financial Group lifted its holdings in Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after purchasing an additional 695 shares in the last quarter. Finally, Everence Capital Management Inc. lifted its holdings in Eli Lilly and Company by 3.2% in the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock worth $17,246,000 after purchasing an additional 690 shares in the last quarter. 82.53% of the stock is 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.