Eli Lilly and Company (NYSE:LLY) Trading Down 0.2% on Analyst Downgrade

Eli Lilly and Company (NYSE:LLY)’s stock price fell 0.2% during trading on Tuesday after Citigroup lowered their price target on the stock from $1,250.00 to $1,190.00. Citigroup currently has a buy rating on the stock. Eli Lilly and Company traded as low as $800.11 and last traded at $806.50. 703,587 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,992,015 shares. The stock had previously closed at $808.17.

Several other research firms have also commented on LLY. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Barclays dropped their price target 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. 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. Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $997.22.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of Eli Lilly and Company

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Centerline Wealth Advisors LLC bought a new position in Eli Lilly and Company during the fourth quarter worth $731,000. Archer Investment Corp boosted its position in Eli Lilly and Company by 3.6% during the 4th quarter. Archer Investment Corp now owns 2,827 shares of the company’s stock valued at $2,182,000 after purchasing an additional 99 shares during the period. Live Oak Private Wealth LLC boosted its position in Eli Lilly and Company by 1.2% during the 4th quarter. Live Oak Private Wealth LLC now owns 1,964 shares of the company’s stock valued at $1,516,000 after purchasing an additional 23 shares during the period. FFG Partners LLC increased its position in Eli Lilly and Company by 17.7% in the fourth quarter. FFG Partners LLC now owns 20,073 shares of the company’s stock worth $15,497,000 after buying an additional 3,022 shares during the period. Finally, SMART Wealth LLC lifted its stake in Eli Lilly and Company by 223.6% in the fourth quarter. SMART Wealth LLC now owns 1,670 shares of the company’s stock valued at $1,289,000 after buying an additional 1,154 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.2 %

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 $778.30 and its 200-day moving average price is $847.30. The company has a market cap of $765.64 billion, a price-to-earnings ratio of 87.19, a P/E/G ratio of 1.59 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 analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for 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 company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. On average, equities analysts expect that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given 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 dividend yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy 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.

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.