Eli Lilly and Company (NYSE:LLY) Shares Down 1.2% - Should You Sell?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price dropped 1.2% during trading on Thursday . The stock traded as low as $753.33 and last traded at $755.37. Approximately 891,863 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 3,199,378 shares. The stock had previously closed at $764.71.

Analyst Ratings Changes

A number of research firms have recently weighed in on LLY. Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Barclays reduced their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised 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 report on Friday, September 13th. Bank of America restated a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a "hold" rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

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 capitalization of $719.14 billion, a PE ratio of 81.90, a P/E/G ratio of 3.02 and a beta of 0.41. The firm has a fifty day moving average price of $822.23 and a 200 day moving average price of $869.42.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion for the quarter, compared to analysts' expectations of $12.09 billion. During the same period in the prior year, the company posted $0.10 earnings per share. Eli Lilly and Company's quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is an increase from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company's payout ratio is 64.86%.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

A number of large investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas purchased a new stake in Eli Lilly and Company in the 3rd quarter worth approximately $34,328,000. Essex Financial Services Inc. increased its stake in shares of Eli Lilly and Company by 5.8% in the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company's stock worth $25,517,000 after acquiring an additional 1,556 shares during the last quarter. Cumberland Partners Ltd raised its holdings in shares of Eli Lilly and Company by 173.4% during the third quarter. Cumberland Partners Ltd now owns 21,984 shares of the company's stock worth $19,477,000 after acquiring an additional 13,942 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in Eli Lilly and Company by 132.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 40,055 shares of the company's stock valued at $35,486,000 after purchasing an additional 22,840 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Eli Lilly and Company by 0.3% in the third 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 in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

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.