Eli Lilly and Company (NYSE:LLY) Trading Up 2.5% - Still a Buy?

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares were up 2.5% during trading on Wednesday . The stock traded as high as $871.79 and last traded at $878.43. Approximately 1,080,403 shares traded hands during trading, a decline of 71% from the average daily volume of 3,712,080 shares. The stock had previously closed at $857.20.

Analyst Ratings Changes

LLY has been the topic of several research reports. 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 on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Truist Financial boosted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, Bank of America reiterated a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $997.50.

Eli Lilly and Company Stock Performance

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 stock has a market cap of $829.82 billion, a P/E ratio of 74.65, a PEG ratio of 1.39 and a beta of 0.42. The business has a 50 day moving average price of $801.33 and a 200 day moving average price of $846.75.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed 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 is a positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 51.24%.

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

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors have recently modified their holdings of the stock. Inscription Capital LLC increased its holdings in Eli Lilly and Company by 1.0% during the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company's stock worth $1,083,000 after purchasing an additional 12 shares during the period. FWG Holdings LLC grew its position in shares of Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after buying an additional 12 shares in the last quarter. Morling Financial Advisors LLC raised its holdings in shares of Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after acquiring an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after acquiring an additional 12 shares in the last quarter. Finally, Applied Finance Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 1.4% in the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after acquiring an additional 12 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other 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.