Eli Lilly and Company (NYSE:LLY) Shares Down 4.1% - What's Next?

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares were down 4.1% on Monday . The company traded as low as $725.01 and last traded at $726.24. Approximately 5,497,108 shares traded hands during trading, an increase of 101% from the average daily volume of 2,736,766 shares. The stock had previously closed at $757.60.

Analysts Set New Price Targets

LLY has been the topic of several analyst reports. Bank of America reaffirmed 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. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 price objective for the company. Finally, StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Wednesday, January 1st. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,002.22.

Eli Lilly and Company Trading Down 4.1 %

The firm has a market capitalization of $689.43 billion, a P/E ratio of 78.51, a PEG ratio of 1.66 and a beta of 0.41. 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 firm has a 50 day moving average of $781.14 and a 200-day moving average of $854.04.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the company posted $0.10 earnings per share. The business's revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts predict that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. Eli Lilly and Company's payout ratio is presently 56.22%.

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

Insider Activity at Eli Lilly and Company

In related 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 owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Eli Lilly and Company

Institutional investors have recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC boosted its stake in 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 worth $464,000 after acquiring an additional 11 shares in the last quarter. Summit Financial Strategies Inc. grew its stake in Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company's stock valued at $1,865,000 after acquiring an additional 11 shares during the period. Prio Wealth Limited Partnership increased its holdings in shares of Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company's stock valued at $2,136,000 after acquiring an additional 11 shares in the last quarter. First Community Trust NA raised its position in shares of Eli Lilly and Company by 4.9% during the third quarter. First Community Trust NA now owns 257 shares of the company's stock worth $228,000 after purchasing an additional 12 shares during the period. Finally, Hummer Financial Advisory Services Inc lifted its stake in shares of Eli Lilly and Company by 1.0% in the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company's stock valued at $1,126,000 after buying an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

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.