Eli Lilly and Company (NYSE:LLY) Stock Price Down 3.1% - Time to Sell?

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares traded down 3.1% on Monday . The company traded as low as $841.49 and last traded at $844.82. 3,219,625 shares changed hands during trading, a decline of 21% from the average session volume of 4,056,943 shares. The stock had previously closed at $871.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America reaffirmed a "buy" rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Barclays cut their target price 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 cut their target price 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. StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $997.50.

Eli Lilly and Company Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $829.82 billion, a PE ratio of 74.65, a PEG ratio of 1.39 and a beta of 0.42. The firm's fifty day simple moving average is $799.63 and its 200-day simple moving average is $846.07.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company's payout ratio is presently 51.24%.

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.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC raised its holdings in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. FPC Investment Advisory Inc. raised its holdings in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $48,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.