Shares of Eli Lilly and Company (NYSE:LLY - Get Free Report) were up 0.7% on Thursday . The stock traded as high as $880.32 and last traded at $873.36. Approximately 863,579 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,692,492 shares. The stock had previously closed at $867.05.
Analyst Ratings Changes
Several equities research analysts recently weighed in on LLY shares. StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Bank of America reaffirmed a "buy" rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Citigroup reduced their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $997.50.
Read Our Latest Stock Analysis on Eli Lilly and Company
Eli Lilly and Company Stock Up 0.1 %
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 $829.82 billion, a PE ratio of 74.65, a price-to-earnings-growth ratio of 1.39 and a beta of 0.42. The business's 50 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 for the quarter, missing analysts' consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. As a group, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.
Eli Lilly and Company Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This is an increase from Eli Lilly and Company's previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. Eli Lilly and Company's dividend payout ratio is currently 51.24%.
Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase plan 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 plans are often a sign that the company's board of directors believes its shares are undervalued.
Hedge Funds Weigh In On Eli Lilly and Company
A number of large investors have recently made changes to their positions in the business. Ascent Group LLC increased its holdings in Eli Lilly and Company by 9.0% in the fourth quarter. Ascent Group LLC now owns 11,205 shares of the company's stock worth $8,650,000 after buying an additional 923 shares during the last quarter. Putney Financial Group LLC acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $1,364,000. Aurdan Capital Management LLC acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $468,000. Vermillion Wealth Management Inc. acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $4,102,000. Finally, AlphaCore Capital LLC increased its holdings in Eli Lilly and Company by 17.8% in the fourth quarter. AlphaCore Capital LLC now owns 1,900 shares of the company's stock worth $1,467,000 after buying an additional 287 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.
About Eli Lilly and Company
(
Get Free Report)
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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