Eli Lilly and Company (NYSE:LLY) Trading 1.5% Higher – What’s Next?

Eli Lilly and Company (NYSE:LLY)’s stock price rose 1.5% on Tuesday . The company traded as high as $862.73 and last traded at $856.97. Approximately 1,025,017 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 3,695,484 shares. The stock had previously closed at $844.27.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LLY. Truist Financial raised their price target 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 note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut their price objective 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. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Price Performance

The firm has a market cap of $829.49 billion, a P/E ratio of 74.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.42. 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’s 50 day moving average is $797.80 and its 200 day moving average is $845.87.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 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. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 51.24%.

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Eli Lilly and Company

A number of institutional investors have recently made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company in the third quarter worth $30,000. Highline Wealth Partners LLC lifted its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. Kovitz Investment Group Partners LLC boosted its position in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the last quarter. Finally, FPC Investment Advisory Inc. grew its stake in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the period. 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.