Eli Lilly and Company (NYSE:LLY) Given New $1,100.00 Price Target at Bank of America

Eli Lilly and Company (NYSE:LLY) had its target price trimmed by Bank of America from $1,150.00 to $1,100.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on LLY. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Guggenheim raised their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Barclays lifted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Finally, Berenberg Bank raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,009.00.

Eli Lilly and Company Stock Down 0.9 %

LLY stock traded down $7.34 on Thursday, hitting $822.40. 1,576,739 shares of the company’s stock were exchanged, compared to its average volume of 3,037,066. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a 50 day moving average price of $913.71 and a two-hundred day moving average price of $864.86. The stock has a market cap of $781.63 billion, a P/E ratio of 89.11, a price-to-earnings-growth ratio of 3.07 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 73.73% and a net margin of 20.48%. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities research analysts expect that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.63%. Eli Lilly and Company’s payout ratio is 56.22%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the second quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company in the second quarter worth approximately $36,000. Cedar Mountain Advisors LLC grew its position in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC grew its position in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new position in Eli Lilly and Company during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.