Eli Lilly and Company (NYSE:LLY) Given New $1,100.00 Price Target at Wells Fargo & Company

Eli Lilly and Company (NYSE:LLY - Free Report) had its price target increased by Wells Fargo & Company from $970.00 to $1,100.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently commented on LLY. Bank of America reaffirmed a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 price target for the company. Citigroup cut 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 research note on Tuesday, January 28th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Finally, 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 note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,007.50.

Eli Lilly and Company Price Performance

NYSE:LLY traded up $19.06 during mid-day trading on Wednesday, hitting $930.12. 3,108,134 shares of the stock traded hands, compared to its average volume of 3,115,155. The business's 50-day moving average price is $822.55 and its 200 day moving average price is $848.61. The company has a market cap of $881.91 billion, a PE ratio of 79.43, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued 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 85.24%. On average, analysts expect that Eli Lilly and Company will post 23.48 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. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. Eli Lilly and Company's payout ratio is currently 51.24%.

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

Hedge Funds Weigh In On Eli Lilly and Company

Large investors have recently added to or reduced their stakes in the company. Castle Rock Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 2.5% during the fourth quarter. Castle Rock Wealth Management LLC now owns 2,975 shares of the company's stock worth $2,512,000 after acquiring an additional 73 shares during the last quarter. Siemens Fonds Invest GmbH boosted its position in Eli Lilly and Company by 4.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 18,211 shares of the company's stock valued at $14,092,000 after buying an additional 756 shares during the last quarter. BridgePort Financial Solutions LLC purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $180,000. Park Square Financial Group LLC purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $1,218,000. Finally, Menard Financial Group LLC boosted its position in Eli Lilly and Company by 6.4% in the fourth quarter. Menard Financial Group LLC now owns 810 shares of the company's stock valued at $625,000 after buying an additional 49 shares during the last quarter. 82.53% of the stock is currently 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.