Citigroup Cuts Eli Lilly and Company (NYSE:LLY) Price Target to $1,190.00

Eli Lilly and Company (NYSE:LLY) had its target price cut by Citigroup from $1,250.00 to $1,190.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on LLY. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their target price 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 research report on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company decreased their price objective 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 report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $997.22.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $823.59 on Tuesday. The stock’s 50-day moving average is $780.80 and its 200-day moving average is $845.98. 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 has a 1-year low of $637.00 and a 1-year high of $972.53. The stock has a market cap of $781.85 billion, a P/E ratio of 89.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the business posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. Equities research analysts anticipate that Eli Lilly and Company will post 12.98 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. Shareholders 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 yield of 0.73%. The ex-dividend date of this dividend 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 payout ratio is 56.22%.

Eli Lilly and Company declared that its board has authorized a share repurchase plan 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 plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently bought and sold shares of the stock. Algert Global LLC lifted its position in shares of Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after purchasing an additional 110 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in Eli Lilly and Company by 4.2% in the 2nd quarter. Pathway Financial Advisers LLC now owns 1,101 shares of the company’s stock valued at $982,000 after buying an additional 44 shares during the last quarter. Advisory Alpha LLC lifted its position in shares of Eli Lilly and Company by 6.5% during the 2nd quarter. Advisory Alpha LLC now owns 3,208 shares of the company’s stock worth $2,905,000 after buying an additional 195 shares in the last quarter. Ted Buchan & Co purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $1,780,000. Finally, Granite Bay Wealth Management LLC bought a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $323,000. 82.53% of the stock is owned by hedge funds and other 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.