Eli Lilly and Company (NYSE:LLY) Trading Up 0.1% – Here’s Why

Eli Lilly and Company (NYSE:LLY) shares rose 0.1% during mid-day trading on Friday . The company traded as high as $827.35 and last traded at $823.66. Approximately 515,736 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,746,852 shares. The stock had previously closed at $823.23.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LLY shares. Truist Financial boosted 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 research report on Thursday, October 10th. Wells Fargo & Company reduced their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut 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 report on Monday, November 4th. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Barclays reduced 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 report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $997.22.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $776.60 billion, a price-to-earnings ratio of 88.45, a P/E/G ratio of 1.71 and a beta of 0.41. The stock has a 50 day simple moving average of $782.29 and a 200 day simple moving average of $845.82. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its 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 net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, analysts anticipate that Eli Lilly and Company will post 12.85 earnings per share for the current fiscal 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

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

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC raised its stake in Eli Lilly and Company by 27.9% during the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after purchasing an additional 110 shares during the last quarter. RiverFront Investment Group LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $256,000. Anchor Investment Management LLC raised its stake in shares of Eli Lilly and Company by 0.9% in the second quarter. Anchor Investment Management LLC now owns 13,966 shares of the company’s stock valued at $12,645,000 after acquiring an additional 131 shares during the last quarter. Centaurus Financial Inc. boosted its stake in Eli Lilly and Company by 102.4% in the second quarter. Centaurus Financial Inc. now owns 6,099 shares of the company’s stock worth $5,522,000 after purchasing an additional 3,085 shares in the last quarter. Finally, Greater Midwest Financial Group LLC raised its stake in shares of Eli Lilly and Company by 230.2% in the second quarter. Greater Midwest Financial Group LLC now owns 4,018 shares of the company’s stock worth $3,744,000 after acquiring an additional 2,801 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

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.