Eli Lilly and Company (NYSE:LLY) Trading Down 1.2% – What’s Next?

Shares of Eli Lilly and Company (NYSE:LLY) were down 1.2% during mid-day trading on Monday . The company traded as low as $861.38 and last traded at $868.19. Approximately 847,478 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 3,886,495 shares. The stock had previously closed at $878.31.

Wall Street Analysts Forecast Growth

LLY has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Citigroup dropped their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Up 0.9 %

The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a fifty day moving average of $792.27 and a 200-day moving average of $843.94. The firm has a market cap of $828.74 billion, a P/E ratio of 74.55, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced 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. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 44.41%.

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWA Asset Management Group LLC increased its holdings in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the period. M&T Bank Corp increased its stake in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares during the period. Cooper Financial Group boosted its holdings in shares of Eli Lilly and Company by 35.5% during the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after purchasing an additional 695 shares during the period. Everence Capital Management Inc. increased its stake in shares of Eli Lilly and Company by 3.2% during the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after buying an additional 690 shares during the period. Finally, Jacobs & Co. CA boosted its stake in shares of Eli Lilly and Company by 35.2% during the 4th quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock valued at $22,690,000 after purchasing an additional 7,646 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.