Eli Lilly and Company (NYSE:LLY) Trading Up 4.2% - Still a Buy?

Shares of Eli Lilly and Company (NYSE:LLY - Get Free Report) shot up 4.2% on Friday . The company traded as high as $811.35 and last traded at $789.62. 3,807,290 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 3,214,142 shares. The stock had previously closed at $757.54.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LLY shares. Deutsche Bank Aktiengesellschaft decreased their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an "overweight" rating in a report on Friday, September 13th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 target price for the company. Bank of America reissued a "buy" rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average price target of $1,002.22.

Eli Lilly and Company Price Performance

The firm has a 50 day moving average price of $818.94 and a two-hundred day moving average price of $868.98. The company has a market cap of $728.85 billion, a P/E ratio of 83.00, a P/E/G ratio of 3.02 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analysts' expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. On average, analysts predict that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. This is a positive change 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 currently 64.86%.

Eli Lilly and Company announced that its board has initiated a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LLY. Oddo BHF Asset Management Sas purchased a new position in Eli Lilly and Company in the 3rd quarter worth approximately $34,328,000. Essex Financial Services Inc. lifted its holdings in shares of Eli Lilly and Company by 5.8% during the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company's stock worth $25,517,000 after acquiring an additional 1,556 shares during the last quarter. Cumberland Partners Ltd grew its position in Eli Lilly and Company by 173.4% in the third quarter. Cumberland Partners Ltd now owns 21,984 shares of the company's stock worth $19,477,000 after acquiring an additional 13,942 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in Eli Lilly and Company by 132.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 40,055 shares of the company's stock valued at $35,486,000 after acquiring an additional 22,840 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Eli Lilly and Company by 0.3% in the third quarter. Victory Capital Management Inc. now owns 697,335 shares of the company's stock valued at $617,797,000 after acquiring an additional 1,961 shares during 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.