Eli Lilly and Company (NYSE:LLY) Shares Up 2.4% – What’s Next?

Eli Lilly and Company (NYSE:LLY) shares were up 2.4% on Tuesday . The company traded as high as $912.00 and last traded at $902.98. Approximately 1,962,901 shares were traded during trading, a decline of 47% from the average daily volume of 3,685,885 shares. The stock had previously closed at $881.40.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LLY. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company cut their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Up 2.4 %

The company has a fifty day moving average of $803.38 and a two-hundred day moving average of $847.92. The company has a market cap of $855.38 billion, a PE ratio of 77.04, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate 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%. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

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

Institutional Investors Weigh In On Eli Lilly and Company

Several large investors have recently modified their holdings of the business. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC lifted its position in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares in the last quarter. Finally, FPC Investment Advisory Inc. grew its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Institutional investors 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.