Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.1% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) traded down 0.1% on Friday . The stock traded as low as $784.86 and last traded at $786.28. 955,202 shares were traded during trading, a decline of 63% from the average session volume of 2,607,299 shares. The stock had previously closed at $787.22.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LLY. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 target price for the company. Bank of America reissued a "buy" rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial boosted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Wednesday, January 1st. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market cap of $758.87 billion, a P/E ratio of 86.42, a P/E/G ratio of 2.99 and a beta of 0.41. The business's 50-day moving average price is $786.48 and its 200-day moving average price is $860.65.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly 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). 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 the consensus estimate of $12.09 billion. During the same period in the prior year, the firm posted $0.10 EPS. The business's revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared 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 positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company's dividend payout ratio is presently 64.86%.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business's stock in a transaction that occurred on 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. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company's stock valued at $15,089,563,000 after acquiring an additional 85,823 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eli Lilly and Company by 2.6% during 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 purchasing an additional 157,741 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Eli Lilly and Company by 3.5% in the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company's stock worth $4,481,175,000 after purchasing an additional 169,391 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Eli Lilly and Company by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company's stock worth $3,242,296,000 after buying an additional 171,595 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.