Eli Lilly and Company (NYSE:LLY) Trading Up 0.1% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares were up 0.1% on Friday . The stock traded as high as $827.35 and last traded at $823.66. Approximately 515,736 shares were traded during trading, a decline of 86% from the average daily volume of 3,746,852 shares. The stock had previously closed at $823.23.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LLY. Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered 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 research note on Monday, November 4th. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Citigroup lowered their target price 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. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average target price of $997.22.

Eli Lilly and Company Stock Performance

The business has a 50 day moving average of $782.29 and a 200-day moving average of $845.82. The company has a market capitalization of $770.48 billion, a P/E ratio of 87.74, a price-to-earnings-growth ratio of 1.71 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 quarter in the prior year, the company earned $0.10 earnings per share. The company's quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts predict that Eli Lilly and Company will post 12.85 EPS 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. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's dividend payout ratio is 56.22%.

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

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company's stock.

Institutional Trading of Eli Lilly and Company

A number of hedge funds have recently made changes to their positions in LLY. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC lifted its position in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC grew its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company's stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock valued at $41,000 after acquiring an additional 24,879 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

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.