Eli Lilly and Company (NYSE:LLY) Trading Down 0.1% – Time to Sell?

Eli Lilly and Company (NYSE:LLY)’s share price dropped 0.1% on Tuesday . The company traded as low as $787.10 and last traded at $795.80. Approximately 506,686 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 3,230,845 shares. The stock had previously closed at $796.28.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Wolfe Research initiated 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 target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, Citigroup boosted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

The stock has a market capitalization of $755.34 billion, a price-to-earnings ratio of 86.02, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41. The company has a 50 day simple moving average of $816.24 and a 200-day simple moving average of $869.21. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, equities research analysts expect that Eli Lilly and Company will post 13.18 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. Stockholders of record on Friday, February 14th will be paid 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 annualized dividend and a dividend yield of 0.75%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several large investors have recently added to or reduced their stakes in the business. Lantz Financial LLC boosted its holdings in Eli Lilly and Company by 1.3% during the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after acquiring an additional 16 shares during the last quarter. Atomi Financial Group Inc. increased its stake in Eli Lilly and Company by 11.6% in the 2nd quarter. Atomi Financial Group Inc. now owns 5,283 shares of the company’s stock valued at $4,783,000 after buying an additional 550 shares during the last quarter. Bensler LLC lifted its position in shares of Eli Lilly and Company by 8.1% during the 2nd quarter. Bensler LLC now owns 13,355 shares of the company’s stock worth $12,091,000 after buying an additional 998 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Eli Lilly and Company by 3.0% in the 2nd quarter. Harbour Investments Inc. now owns 7,995 shares of the company’s stock worth $7,239,000 after buying an additional 236 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in shares of Eli Lilly and Company by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 10,977 shares of the company’s stock valued at $9,938,000 after acquiring an additional 111 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

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.