Eli Lilly and Company (NYSE:LLY) Shares Up 4.2% – Still a Buy?

Eli Lilly and Company (NYSE:LLY)’s share price traded up 4.2% during trading on Friday . The stock traded as high as $811.35 and last traded at $789.62. 3,807,290 shares changed hands during mid-day trading, an increase of 18% from the average session volume of 3,214,142 shares. The stock had previously closed at $757.54.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $728.85 billion, a PE ratio of 83.00, a PEG ratio of 3.02 and a beta of 0.41. The firm’s fifty day moving average price is $818.94 and its 200 day moving average price is $869.24.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend 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 (DPR) is presently 64.86%.

Eli Lilly and Company announced that its board has approved a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Eli Lilly and Company

A number of institutional investors and hedge funds have recently made changes to their positions in LLY. Geode Capital Management LLC lifted its holdings in Eli Lilly and Company by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after purchasing an additional 85,823 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after buying an additional 157,741 shares during the period. Fisher Asset Management LLC grew its stake in Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after buying an additional 169,391 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Eli Lilly and Company by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock worth $3,242,296,000 after acquiring an additional 171,595 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.