Brokerages Set Eli Lilly and Company (NYSE:LLY) Price Target at $997.50

Shares of Eli Lilly and Company (NYSE:LLY) have received an average recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $1,000.28.

A number of brokerages have recently weighed in on LLY. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wolfe Research began 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 target on the stock. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Finally, Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $915.47 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market cap of $868.02 billion, a price-to-earnings ratio of 78.18, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The stock’s 50-day moving average is $808.88 and its two-hundred day moving average is $848.46. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.66%. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Institutional Investors Weigh In On Eli Lilly and Company

Several large investors have recently modified their holdings of LLY. Inscription Capital LLC lifted its stake in shares of Eli Lilly and Company by 1.0% in the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after acquiring an additional 12 shares during the period. FWG Holdings LLC lifted its position in Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after purchasing an additional 12 shares during the period. Morling Financial Advisors LLC boosted its holdings in Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after purchasing an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock worth $468,000 after purchasing an additional 12 shares during the period. Finally, Applied Finance Capital Management LLC raised its stake in shares of Eli Lilly and Company by 1.4% during the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock worth $660,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors 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.