Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.3% – Time to Buy?

Eli Lilly and Company (NYSE:LLY) traded up 1.3% on Tuesday . The stock traded as high as $783.96 and last traded at $774.86. 1,252,759 shares were traded during mid-day trading, a decline of 43% from the average session volume of 2,202,437 shares. The stock had previously closed at $765.10.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Citigroup lifted their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased 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 note on Friday, September 13th. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Finally, Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Four 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 price target of $1,002.22.

Eli Lilly and Company Trading Up 1.1 %

The company has a market capitalization of $734.23 billion, a price-to-earnings ratio of 83.61, a P/E/G ratio of 2.99 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. The business’s 50-day simple moving average is $791.18 and its 200-day simple moving average is $862.49.

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

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. This is an increase 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 currently 64.86%.

Eli Lilly and Company announced that its Board of Directors has authorized a stock repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently modified their holdings of LLY. Spartan Planning & Wealth Management bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $574,000. Diversified Trust Co lifted its stake in shares of Eli Lilly and Company by 7.2% in the 4th quarter. Diversified Trust Co now owns 14,660 shares of the company’s stock valued at $11,318,000 after acquiring an additional 989 shares during the last quarter. Norman Fields Gottscho Capital Management LLC increased its holdings in Eli Lilly and Company by 1.4% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 1,480 shares of the company’s stock worth $1,143,000 after purchasing an additional 20 shares in the last quarter. ShankerValleau Wealth Advisors Inc. bought a new position in Eli Lilly and Company in the fourth quarter valued at about $239,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $899,000. Institutional investors own 82.53% of the company’s stock.

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.