Eli Lilly and Company (NYSE:LLY) Stock Price Down 3.5% – Time to Sell?

Shares of Eli Lilly and Company (NYSE:LLY) fell 3.5% during trading on Friday . The stock traded as low as $878.01 and last traded at $881.23. 962,952 shares were traded during trading, a decline of 69% from the average session volume of 3,108,924 shares. The stock had previously closed at $912.76.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company upped their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America reissued 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. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. 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 research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,007.50.

Eli Lilly and Company Stock Performance

The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market capitalization of $823.57 billion, a PE ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34. The stock’s 50-day simple moving average is $826.63 and its 200 day simple moving average is $847.97.

Eli Lilly and Company (NYSE:LLY) last posted its 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 net margin of 23.51% and a return on equity of 85.24%. As a group, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 51.24%.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWA Asset Management Group LLC boosted its position in Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares in the last quarter. Centerpoint Advisory Group acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth $514,000. M&T Bank Corp boosted its position in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares in the last quarter. Kentucky Trust Co acquired a new stake in Eli Lilly and Company in the 4th quarter valued at about $834,000. Finally, Cooper Financial Group grew its position in shares of Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after purchasing an additional 695 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.