By otakuyassine3@gmail.com 
Eli Lilly and Company (NYSE:LLY – Get Free Report)’s share price dropped 1.2% on Thursday . The stock traded as low as $753.33 and last traded at $755.37. Approximately 891,863 shares changed hands during trading, a decline of 72% from the average daily volume of 3,199,378 shares. The stock had previously closed at $764.71.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on LLY shares. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.
Get Our Latest Analysis on Eli Lilly and Company
Eli Lilly and Company Trading Down 0.8 %
The business’s fifty day moving average is $825.29 and its 200-day moving average is $870.21. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market cap of $720.35 billion, a P/E ratio of 82.03, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41.
Eli Lilly and Company (NYSE:LLY – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 13.18 EPS for the current year.
Eli Lilly and Company Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.79%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 64.86%.
Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Insider Activity at Eli Lilly and Company
In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s 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 directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.
Institutional Trading of Eli Lilly and Company
Several large investors have recently made changes to their positions in LLY. Geode Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after buying an additional 85,823 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Eli Lilly and Company by 2.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after purchasing an additional 157,741 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Eli Lilly and Company by 3.5% during the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after buying an additional 169,391 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Eli Lilly and Company by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock valued at $3,242,296,000 after buying an additional 171,595 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.
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.
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