Eli Lilly and Company (NYSE:LLY) Trading Up 1.5% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) shares were up 1.5% on Tuesday . The company traded as high as $862.73 and last traded at $856.97. Approximately 1,025,017 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 3,695,484 shares. The stock had previously closed at $844.27.

Analyst Upgrades and Downgrades

Several research firms recently commented on LLY. Citigroup decreased their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial increased their price objective on 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Barclays dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Up 1.6 %

The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a market cap of $813.93 billion, a price-to-earnings ratio of 73.22, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The firm’s fifty day moving average price is $795.28 and its 200-day moving average price is $845.36.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (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 predict that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 44.41%.

Eli Lilly and Company announced that its Board of Directors 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 reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC grew its stake in Eli Lilly and Company by 80.0% in 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. increased its position in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds 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.