Eli Lilly and Company (NYSE:LLY) Trading 0.6% Higher - Should You Buy?

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares shot up 0.6% on Thursday . The stock traded as high as $812.51 and last traded at $809.16. 519,735 shares were traded during mid-day trading, a decline of 86% from the average session volume of 3,808,170 shares. The stock had previously closed at $804.08.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LLY shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Barclays lowered their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company cut their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, StockNews.com downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $997.22.

Eli Lilly and Company Trading Up 2.4 %

The company has a 50-day moving average price of $780.80 and a 200 day moving average price of $845.98. The stock has a market capitalization of $781.85 billion, a P/E ratio of 89.04, a price-to-earnings-growth ratio of 1.59 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 released its quarterly 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 firm had revenue of $11.44 billion for the quarter, compared to analysts' expectations of $12.09 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The business's quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts forecast that Eli Lilly and Company will post 12.98 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 $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.73%. This is an increase 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 dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company declared that its Board of Directors has approved a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 owns 5,480 shares of the company's stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter worth about $30,000. Highline Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company's stock valued at $41,000 after buying an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its holdings in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock worth $41,000 after acquiring an additional 24,879 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.

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