Eli Lilly and Company (NYSE:LLY) Receives $997.50 Consensus Target Price from Brokerages

Shares of Eli Lilly and Company (NYSE:LLY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $1,007.94.

Several brokerages recently weighed in on LLY. Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. Barclays reduced their price objective 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. Wells Fargo & Company reduced their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Citigroup dropped their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently made changes to their positions in the business. CWA Asset Management Group LLC raised its holdings in shares of Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company's stock worth $5,245,000 after acquiring an additional 724 shares during the last quarter. Centerpoint Advisory Group acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $514,000. M&T Bank Corp raised its holdings in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company's stock worth $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $834,000. Finally, Cooper Financial Group raised its holdings in shares of Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company's stock worth $2,050,000 after acquiring an additional 695 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded up $5.33 during midday trading on Thursday, reaching $878.45. 2,367,617 shares of the company were exchanged, compared to its average volume of 3,716,162. The stock's 50-day moving average price is $799.63 and its 200-day moving average price is $846.07. The stock has a market cap of $833.93 billion, a P/E ratio of 75.13, a PEG ratio of 1.39 and a beta of 0.42. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.68%. This is a positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's dividend payout ratio is currently 51.24%.

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.