Eli Lilly and Company (NYSE:LLY) Trading Up 1% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) traded up 1% during trading on Thursday . The company traded as high as $787.00 and last traded at $779.77. 538,739 shares were traded during trading, a decline of 83% from the average session volume of 3,211,798 shares. The stock had previously closed at $772.00.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their target price 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 report on Monday, November 4th. Sanford C. Bernstein started 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 price target on the stock. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Up 0.2 %

The stock’s 50 day simple moving average is $798.30 and its two-hundred day simple moving average is $865.06. 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 has a market cap of $734.16 billion, a P/E ratio of 83.61, a P/E/G ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its 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 prior year, the company posted $0.10 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, research analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 64.86%.

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

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by insiders.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LLY. M&T Bank Corp lifted its position in Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after purchasing an additional 1,867 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $34,328,000. Cumberland Partners Ltd lifted its holdings in Eli Lilly and Company by 173.4% during the third quarter. Cumberland Partners Ltd now owns 21,984 shares of the company’s stock valued at $19,477,000 after purchasing an additional 13,942 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Eli Lilly and Company by 132.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 40,055 shares of the company’s stock worth $35,486,000 after purchasing an additional 22,840 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Eli Lilly and Company by 0.3% during the 3rd quarter. Victory Capital Management Inc. now owns 697,335 shares of the company’s stock valued at $617,797,000 after purchasing an additional 1,961 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.