Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.7% - What's Next?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price traded up 1.7% during mid-day trading on Thursday . The stock traded as high as $792.56 and last traded at $786.15. 3,476,307 shares were traded during mid-day trading, an increase of 18% from the average session volume of 2,956,768 shares. The stock had previously closed at $773.29.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LLY. Bank of America restated a "buy" rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Barclays reduced their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Redburn Atlantic upgraded Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. Truist Financial upped their target price on shares of 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. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Wednesday, January 1st. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and an average target price of $1,002.22.

Eli Lilly and Company Trading Up 1.7 %

The firm's 50 day simple moving average is $786.48 and its 200-day simple moving average is $860.65. 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 company has a market capitalization of $746.30 billion, a PE ratio of 84.99, a P/E/G ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate 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 company had revenue of $11.44 billion for the quarter, compared to analysts' expectations of $12.09 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The business's quarterly revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.18 EPS 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. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company's dividend payout ratio is presently 64.86%.

Eli Lilly and Company declared that its board has approved a stock 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 reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now 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 owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company's stock worth $15,089,563,000 after purchasing an additional 85,823 shares during the period. International Assets Investment Management LLC increased 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 buying an additional 12,448,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Eli Lilly and Company by 2.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company's stock valued at $5,417,970,000 after buying an additional 157,741 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Eli Lilly and Company by 3.5% during the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company's stock worth $4,481,175,000 after acquiring an additional 169,391 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Eli Lilly and Company by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company's stock worth $3,242,296,000 after acquiring an additional 171,595 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

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.