Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.7% – What’s Next?

Eli Lilly and Company (NYSE:LLYGet Free Report) shares traded up 1.7% during mid-day trading on Wednesday . The stock traded as high as $786.70 and last traded at $786.06. 960,078 shares were traded during trading, a decline of 60% from the average session volume of 2,422,880 shares. The stock had previously closed at $773.29.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LLY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped 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 note on Monday, November 4th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Get Our Latest Stock Report on LLY

Eli Lilly and Company Trading Up 1.9 %

The firm has a market capitalization of $747.74 billion, a price-to-earnings ratio of 85.15, a PEG ratio of 2.99 and a beta of 0.41. The business’s 50-day moving average price is $788.56 and its 200 day moving average price is $861.70. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLYGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Eli Lilly and Company declared that its Board of Directors has approved a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value 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. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Douglas Lane & Associates LLC boosted its holdings in Eli Lilly and Company by 10.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 2,823 shares of the company’s stock worth $2,179,000 after buying an additional 278 shares in the last quarter. InvesTrust bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth $8,797,000. Private Client Services LLC grew its holdings in shares of Eli Lilly and Company by 8.9% in the 4th quarter. Private Client Services LLC now owns 1,172 shares of the company’s stock worth $905,000 after acquiring an additional 96 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Eli Lilly and Company by 9.5% during the fourth quarter. Fulton Bank N.A. now owns 14,758 shares of the company’s stock worth $11,393,000 after purchasing an additional 1,282 shares during the period. Finally, Park National Corp OH lifted its holdings in shares of Eli Lilly and Company by 0.3% during the fourth quarter. Park National Corp OH now owns 11,437 shares of the company’s stock valued at $8,829,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

About Eli Lilly and Company

(Get Free Report)

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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