Eli Lilly and Company (NYSE:LLY) Shares Down 0.3% - Should You Sell?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s share price dropped 0.3% on Tuesday . The company traded as low as $772.43 and last traded at $776.62. Approximately 983,565 shares changed hands during trading, a decline of 69% from the average daily volume of 3,196,614 shares. The stock had previously closed at $779.00.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. Redburn Atlantic raised Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. 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. Citigroup increased their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Sanford C. Bernstein assumed 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 price objective for the company. Finally, Morgan Stanley reissued an "overweight" rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus target price of $1,002.22.

Eli Lilly and Company Trading Down 0.1 %

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 business's 50 day moving average price is $828.39 and its 200-day moving average price is $870.95. The firm has a market cap of $738.85 billion, a price-to-earnings ratio of 84.14, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm 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 business earned $0.10 EPS. The company's quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts expect that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. 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 dividend payout ratio is presently 64.86%.

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

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LLY. Beaird Harris Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company's stock valued at $464,000 after buying an additional 11 shares during the last quarter. Summit Financial Strategies Inc. increased its holdings in Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company's stock worth $1,865,000 after purchasing an additional 11 shares in the last quarter. Prio Wealth Limited Partnership lifted its holdings in shares of Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company's stock valued at $2,136,000 after purchasing an additional 11 shares in the last quarter. Thompson Davis & CO. Inc. boosted its position in shares of Eli Lilly and Company by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company's stock valued at $1,527,000 after buying an additional 12 shares during the last quarter. Finally, O Brien Greene & Co. Inc grew its holdings in Eli Lilly and Company by 1.3% during the second quarter. O Brien Greene & Co. Inc now owns 955 shares of the company's stock worth $865,000 after buying an additional 12 shares in the last quarter. 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.