Eli Lilly and Company (NYSE:LLY) Shares Up 0.2% – Still a Buy?

Eli Lilly and Company (NYSE:LLY)’s stock price was up 0.2% during trading on Thursday . The company traded as high as $756.49 and last traded at $755.56. Approximately 756,754 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,047,269 shares. The stock had previously closed at $753.98.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LLY shares. 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 target price for the company. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. 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 note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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 note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

The firm has a 50 day moving average of $776.31 and a 200-day moving average of $850.93. The stock has a market capitalization of $723.30 billion, a PE ratio of 82.41, a P/E/G ratio of 1.56 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. Research analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase 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 declared that its board has approved a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of 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 trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors have recently bought and sold shares of LLY. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter worth about $30,000. Highline Wealth Partners LLC grew its holdings in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the period. Cedar Mountain Advisors LLC grew its stake in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.