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

Eli Lilly and Company (NYSE:LLY) rose 1% during trading on Thursday . The company traded as high as $925.50 and last traded at $924.02. Approximately 1,003,913 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 3,685,422 shares. The stock had previously closed at $915.01.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LLY shares. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wolfe Research assumed 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 for the company. Finally, Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Price Performance

The firm has a market capitalization of $857.87 billion, a P/E ratio of 77.26, a PEG ratio of 1.40 and a beta of 0.42. The company has a fifty day moving average of $808.88 and a 200 day moving average of $848.46. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 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%. Sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Eli Lilly and Company

Large investors have recently added to or reduced their stakes in the business. AMF Tjanstepension AB increased its stake in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after acquiring an additional 176,552 shares in the last quarter. Values Added Financial LLC increased its stake in Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after purchasing an additional 17 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Eli Lilly and Company by 8.6% during the 3rd quarter. Pallas Capital Advisors LLC now owns 16,686 shares of the company’s stock worth $14,873,000 after purchasing an additional 1,319 shares in the last quarter. Worth Financial Advisory Group LLC bought a new stake in Eli Lilly and Company in the 3rd quarter valued at about $629,000. Finally, Smith Group Asset Management LLC raised its stake in Eli Lilly and Company by 46.6% during the 3rd quarter. Smith Group Asset Management LLC now owns 2,189 shares of the company’s stock worth $1,939,000 after buying an additional 696 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.