Eli Lilly and Company (NYSE:LLY) Shares Down 0.1% – Here’s Why

Eli Lilly and Company (NYSE:LLY) traded down 0.1% during trading on Friday . The company traded as low as $747.33 and last traded at $749.47. 1,009,627 shares traded hands during trading, a decline of 68% from the average session volume of 3,179,808 shares. The stock had previously closed at $749.92.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Trading Down 0.6 %

The stock has a 50-day moving average of $868.53 and a 200 day moving average of $869.14. The stock has a market cap of $707.89 billion, a PE ratio of 81.02, a price-to-earnings-growth ratio of 2.76 and a beta of 0.43. 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 quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Transactions at Eli Lilly and Company

In related 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 transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Westwood Holdings Group Inc. raised its stake in Eli Lilly and Company by 5.4% during the first quarter. Westwood Holdings Group Inc. now owns 3,839 shares of the company’s stock worth $2,987,000 after purchasing an additional 196 shares during the period. Guardian Capital LP raised its position in shares of Eli Lilly and Company by 3.0% during the 1st quarter. Guardian Capital LP now owns 921 shares of the company’s stock valued at $717,000 after buying an additional 27 shares during the period. Linscomb Wealth Inc. lifted its holdings in Eli Lilly and Company by 0.5% in the first quarter. Linscomb Wealth Inc. now owns 3,389 shares of the company’s stock valued at $2,637,000 after acquiring an additional 17 shares during the last quarter. Steel Grove Capital Advisors LLC grew its position in Eli Lilly and Company by 104.9% in the first quarter. Steel Grove Capital Advisors LLC now owns 795 shares of the company’s stock worth $618,000 after acquiring an additional 407 shares during the period. Finally, Beck Capital Management LLC increased its stake in Eli Lilly and Company by 1.9% during the first quarter. Beck Capital Management LLC now owns 8,824 shares of the company’s stock worth $6,865,000 after acquiring an additional 163 shares during the last quarter. 82.53% of the stock is currently 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.