Eli Lilly and Company (NYSE:LLY) Shares Down 1% – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LLY shares. Citigroup cut their price objective 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. 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 report on Monday, February 3rd. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. Finally, Wells Fargo & Company upped their price target on shares of 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.50.

Eli Lilly and Company Trading Down 4.8 %

The company has a market capitalization of $823.57 billion, a PE ratio of 74.17, a PEG ratio of 1.40 and a beta of 0.34. The company has a fifty day simple moving average of $826.63 and a 200-day simple moving average of $848.68. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts predict that Eli Lilly and Company will post 23.48 EPS 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 $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.69%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 51.24%.

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

Institutional Trading of Eli Lilly and Company

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

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.