Eli Lilly and Company (NYSE:LLY) Shares Down 0.2% - Time to Sell?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price was down 0.2% on Wednesday . The company traded as low as $768.00 and last traded at $777.00. Approximately 813,131 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 3,199,132 shares. The stock had previously closed at $778.62.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LLY shares. Evercore ISI raised shares of Eli Lilly and Company to a "hold" rating in a research note on Thursday, September 5th. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Morgan Stanley reiterated an "overweight" rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Cantor Fitzgerald reissued 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. Finally, Redburn Atlantic raised Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $1,002.22.

Eli Lilly and Company Price Performance

The firm has a 50 day moving average price of $828.39 and a 200 day moving average price of $870.95. The stock has a market capitalization of $725.95 billion, a PE ratio of 82.67, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts' expectations 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 previous year, the company earned $0.10 EPS. Research analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company 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 represents a $6.00 annualized dividend and a dividend yield of 0.78%. This is an increase 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 (DPR) is presently 64.86%.

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

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company's stock.

Institutional Trading of Eli Lilly and Company

Institutional investors and hedge funds have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC lifted its position in shares of Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company's stock worth $464,000 after buying an additional 11 shares in the last quarter. Summit Financial Strategies Inc. boosted its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company's stock valued at $1,865,000 after acquiring an additional 11 shares during the last quarter. Prio Wealth Limited Partnership grew its holdings in shares of Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company's stock valued at $2,136,000 after purchasing an additional 11 shares in the last quarter. Thompson Davis & CO. Inc. increased its position in Eli Lilly and Company by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company's stock worth $1,527,000 after purchasing an additional 12 shares during the last quarter. Finally, O Brien Greene & Co. Inc raised its stake in Eli Lilly and Company by 1.3% during the second quarter. O Brien Greene & Co. Inc now owns 955 shares of the company's stock valued at $865,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by 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.