Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.2% – Time to Sell?

Eli Lilly and Company (NYSE:LLY)’s share price was down 1.2% during trading on Wednesday . The stock traded as low as $788.50 and last traded at $790.11. Approximately 841,605 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 3,195,755 shares. The stock had previously closed at $799.58.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LLY shares. Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. 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 shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Finally, Guggenheim increased their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Down 0.1 %

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 fifty day moving average price is $839.37 and its two-hundred day moving average price is $871.92. The stock has a market cap of $758.35 billion, a price-to-earnings ratio of 85.42, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 56.22%.

Eli Lilly and Company declared that its board has authorized a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lantz Financial LLC raised its stake in shares of Eli Lilly and Company by 1.3% during the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after purchasing an additional 16 shares during the period. Cornerstone Wealth Management LLC boosted its stake in Eli Lilly and Company by 18.5% in the second quarter. Cornerstone Wealth Management LLC now owns 1,887 shares of the company’s stock valued at $1,708,000 after acquiring an additional 294 shares during the last quarter. Baader Bank Aktiengesellschaft grew its position in shares of Eli Lilly and Company by 96.2% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 7,988 shares of the company’s stock valued at $7,100,000 after acquiring an additional 3,917 shares during the period. Hengehold Capital Management LLC grew its position in shares of Eli Lilly and Company by 13.4% during the 2nd quarter. Hengehold Capital Management LLC now owns 524 shares of the company’s stock valued at $475,000 after acquiring an additional 62 shares during the period. Finally, Petredis Investment Advisors LLC increased its stake in shares of Eli Lilly and Company by 0.4% during the 2nd quarter. Petredis Investment Advisors LLC now owns 11,413 shares of the company’s stock worth $10,333,000 after purchasing an additional 40 shares during the last quarter. 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.