Eli Lilly and Company (NYSE:LLY) Trading Down 0.2% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) shares dropped 0.2% during mid-day trading on Thursday . The stock traded as low as $791.50 and last traded at $794.01. Approximately 347,125 shares traded hands during trading, a decline of 89% from the average daily volume of 3,221,980 shares. The stock had previously closed at $795.67.

Wall Street Analyst Weigh In

LLY has been the topic of several research analyst reports. StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Tuesday. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Finally, Barclays dropped their price target on 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. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Price Performance

The company’s 50 day moving average price is $811.47 and its 200 day moving average price is $868.32. The company has a market cap of $756.36 billion, a price-to-earnings ratio of 86.13, a PEG ratio of 2.99 and a beta of 0.41. 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 released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.75%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Eli Lilly and Company declared that its board has authorized a stock buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC grew its holdings in Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares during the last quarter. Summit Financial Strategies Inc. grew its stake in shares of Eli Lilly and Company by 0.5% during the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after purchasing an additional 11 shares during the period. Prio Wealth Limited Partnership increased its stake in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after acquiring an additional 11 shares during the last quarter. O Brien Greene & Co. Inc raised its holdings in Eli Lilly and Company by 1.3% in the second quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock worth $865,000 after purchasing an additional 12 shares during the period. Finally, Tcwp LLC grew its stake in Eli Lilly and Company by 2.3% in the second quarter. Tcwp LLC now owns 524 shares of the company’s stock valued at $474,000 after acquiring an additional 12 shares during the period. 82.53% of the stock is owned by 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.