Eli Lilly and Company (NYSE:LLY) Trading 1.3% Higher – Here’s What Happened

Shares of Eli Lilly and Company (NYSE:LLY) were up 1.3% during mid-day trading on Tuesday . The stock traded as high as $783.96 and last traded at $774.86. Approximately 1,252,759 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 2,202,437 shares. The stock had previously closed at $765.10.

Analyst Ratings Changes

LLY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Barclays lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Truist Financial increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Up 1.7 %

The stock’s 50-day moving average price is $787.35 and its 200 day moving average price is $861.17. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market capitalization of $746.30 billion, a PE ratio of 84.99, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts expect that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. 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. Eli Lilly and Company’s payout ratio is presently 64.86%.

Eli Lilly and Company announced that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Lantz Financial LLC boosted its holdings in shares of Eli Lilly and Company by 1.3% in the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock valued at $1,119,000 after acquiring an additional 16 shares during the last quarter. Angeles Wealth Management LLC raised its stake in shares of Eli Lilly and Company by 8.7% during the 2nd quarter. Angeles Wealth Management LLC now owns 4,407 shares of the company’s stock valued at $3,990,000 after buying an additional 354 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 0.9% in the 2nd quarter. Wetzel Investment Advisors Inc. now owns 9,451 shares of the company’s stock valued at $8,557,000 after buying an additional 88 shares during the period. KFA Private Wealth Group LLC boosted its stake in shares of Eli Lilly and Company by 25.0% in the second quarter. KFA Private Wealth Group LLC now owns 345 shares of the company’s stock worth $312,000 after buying an additional 69 shares during the last quarter. Finally, Biltmore Family Office LLC grew its holdings in Eli Lilly and Company by 2.8% during the second quarter. Biltmore Family Office LLC now owns 3,005 shares of the company’s stock worth $2,721,000 after acquiring an additional 81 shares during the period. 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.