Eli Lilly and Company (NYSE:LLY) Trading 0.9% Higher – Still a Buy?

Eli Lilly and Company (NYSE:LLY)’s share price rose 0.9% on Wednesday . The stock traded as high as $846.10 and last traded at $833.62. Approximately 1,557,274 shares traded hands during trading, a decline of 58% from the average daily volume of 3,723,011 shares. The stock had previously closed at $826.07.

Analyst Ratings Changes

Several research analysts have recently issued reports on LLY shares. Barclays decreased their target price 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. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. StockNews.com downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Trading Up 0.9 %

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock’s 50-day moving average is $788.21 and its two-hundred day moving average is $843.47. The stock has a market cap of $833.59 billion, a P/E ratio of 94.93, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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 20.48% and a return on equity of 71.08%. Equities research analysts anticipate that Eli Lilly and Company will post 12.85 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm 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. This represents a $6.00 annualized dividend and a dividend yield of 0.68%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Eli Lilly and Company declared that its board has approved a stock repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds have recently added to or reduced their stakes in LLY. AMF Tjanstepension AB lifted its holdings 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 worth $293,964,000 after buying an additional 176,552 shares during the period. Axiom Advisory LLC purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $345,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Eli Lilly and Company by 14.4% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,393 shares of the company’s stock valued at $1,234,000 after acquiring an additional 175 shares in the last quarter. West Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the third quarter worth about $58,000. Finally, CWM LLC grew its stake in Eli Lilly and Company by 3.3% in the 3rd quarter. CWM LLC now owns 75,089 shares of the company’s stock valued at $66,524,000 after acquiring an additional 2,389 shares during the period. 82.53% of the stock is currently owned by institutional investors.

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.