Eli Lilly and Company (NYSE:LLY) Trading Up 1.9% – What’s Next?

Eli Lilly and Company (NYSE:LLY)’s share price traded up 1.9% during trading on Monday . The company traded as high as $801.97 and last traded at $800.72. 1,067,866 shares changed hands during trading, a decline of 73% from the average session volume of 4,014,303 shares. The stock had previously closed at $785.41.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Barclays reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. 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. Citigroup reduced their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Price Performance

The stock has a market cap of $762.31 billion, a P/E ratio of 86.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The business has a 50-day simple moving average of $779.81 and a 200 day simple moving average of $846.28. 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 (NYSE:LLY) last released 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). The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. On average, analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 0.75%. 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. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

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

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

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

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.