Eli Lilly and Company (NYSE:LLY) Stock Price Up 0.2% - Still a Buy?

Eli Lilly and Company (NYSE:LLY - Get Free Report) shot up 0.2% during trading on Monday . The company traded as high as $799.78 and last traded at $790.67. 752,341 shares traded hands during trading, a decline of 76% from the average session volume of 3,194,809 shares. The stock had previously closed at $789.12.

Analyst Upgrades and Downgrades

Several research analysts have commented on LLY shares. Citigroup lifted 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 research note on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of 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. Redburn Atlantic raised Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. Truist Financial boosted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, Barclays reduced their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,002.22.

Eli Lilly and Company Trading Down 1.3 %

The stock's fifty day simple moving average is $831.10 and its two-hundred day simple moving average is $871.25. The firm has a market cap of $739.54 billion, a PE ratio of 84.22, a PEG ratio of 3.02 and a beta of 0.41. 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 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). The firm 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 firm's quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. On average, sell-side analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current fiscal 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 0.77%. The ex-dividend date of this dividend 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 announced that its Board of Directors has initiated a stock buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

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 value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company's stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors have recently made changes to their positions in LLY. International Assets Investment Management LLC raised its position in Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of Eli Lilly and Company by 92,759.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company's stock worth $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Wulff Hansen & CO. raised its holdings in Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company's stock worth $848,403,000 after purchasing an additional 936,033 shares during the period. Integrated Investment Consultants LLC lifted its position in Eli Lilly and Company by 37,140.7% during the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company's stock valued at $614,990,000 after purchasing an additional 692,303 shares in the last quarter. Finally, Comerica Bank lifted its position in Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company's stock valued at $1,369,825,000 after purchasing an additional 631,312 shares in the last quarter. Institutional investors 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.