Eli Lilly and Company (NYSE:LLY) Stock Price Down 1% – Should You Sell?

Eli Lilly and Company (NYSE:LLY)’s stock price traded down 1% on Thursday . The company traded as low as $916.01 and last traded at $920.26. 863,463 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 3,105,307 shares. The stock had previously closed at $929.72.

Analyst Ratings Changes

Several research analysts recently issued reports on LLY shares. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. Citigroup reduced their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,007.50.

Eli Lilly and Company Stock Down 2.1 %

The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The business has a fifty day simple moving average of $822.55 and a two-hundred day simple moving average of $848.61. The company has a market cap of $863.45 billion, a PE ratio of 77.77, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share 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. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. 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. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Eli Lilly and Company declared that its board has authorized a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently modified their holdings of LLY. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the period. FPC Investment Advisory Inc. lifted its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $48,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.