Eli Lilly and Company (NYSE:LLY) Trading Down 0.2% - Time to Sell?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s share price dropped 0.2% during trading on Friday . The stock traded as low as $862.00 and last traded at $868.56. Approximately 696,757 shares were traded during trading, a decline of 81% from the average daily volume of 3,697,918 shares. The stock had previously closed at $870.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 target price for the company. Bank of America reiterated 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. Citigroup reduced their price target 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Finally, Barclays reduced their target price 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. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $997.50.

Eli Lilly and Company Trading Down 3.1 %

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm's fifty day moving average is $794.44 and its two-hundred day moving average is $845.27. The firm has a market capitalization of $802.01 billion, a PE ratio of 72.15, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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 return on equity of 86.26% and a net margin of 23.51%. On average, equities analysts predict that Eli Lilly and Company will post 23.33 EPS for the current fiscal 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 paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost 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 presently 44.41%.

Eli Lilly and Company declared that its board has authorized a stock buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Institutional Trading of Eli Lilly and Company

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after buying an additional 291,875 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the period. International Assets Investment Management LLC increased its holdings in Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the last quarter. Finally, Norges Bank bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $8,407,908,000. Institutional investors 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.