Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.2% – Time to Sell?

Eli Lilly and Company (NYSE:LLY)’s stock price dropped 1.2% during mid-day trading on Thursday . The company traded as low as $753.33 and last traded at $755.37. Approximately 891,863 shares were traded during trading, a decline of 72% from the average daily volume of 3,199,378 shares. The stock had previously closed at $764.71.

Wall Street Analyst Weigh In

LLY has been the topic of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Finally, Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Up 1.3 %

The stock’s fifty day simple moving average is $818.94 and its two-hundred day simple moving average is $868.98. The company has a market capitalization of $728.85 billion, a price-to-earnings ratio of 83.00, a P/E/G ratio of 3.02 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, sell-side analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company’s payout ratio is 64.86%.

Eli Lilly and Company declared that its board has authorized 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 buy up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred 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 owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Eli Lilly and Company

Several large investors have recently added to or reduced their stakes in LLY. Beaird Harris Wealth Management LLC grew its position in shares of Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after purchasing an additional 11 shares in the last quarter. Summit Financial Strategies Inc. boosted its stake in Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after purchasing an additional 11 shares during the period. Prio Wealth Limited Partnership grew its holdings in Eli Lilly and Company by 0.5% during the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after buying an additional 11 shares in the last quarter. O Brien Greene & Co. Inc increased its position in shares of Eli Lilly and Company by 1.3% during the second quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock valued at $865,000 after buying an additional 12 shares during the period. Finally, Tcwp LLC lifted its holdings in shares of Eli Lilly and Company by 2.3% in the second quarter. Tcwp LLC now owns 524 shares of the company’s stock worth $474,000 after buying an additional 12 shares in the last quarter. 82.53% of the stock is 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.