Eli Lilly and Company (NYSE:LLY) Shares Down 0.7% on Analyst Downgrade

Eli Lilly and Company (NYSE:LLY) traded down 0.7% on Friday after Barclays lowered their price target on the stock from $1,025.00 to $975.00. Barclays currently has an overweight rating on the stock. Eli Lilly and Company traded as low as $820.50 and last traded at $824.31. 1,270,751 shares traded hands during trading, a decline of 58% from the average session volume of 3,036,065 shares. The stock had previously closed at $829.74.

LLY has been the subject of a number of other reports. Citigroup boosted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Berenberg Bank boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Bank of America decreased their target price on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial boosted their price objective 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. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.00.

Institutional Trading of Eli Lilly and Company

Several institutional investors and hedge funds have recently modified their holdings of LLY. Twelve Points Wealth Management LLC boosted its position in Eli Lilly and Company by 1.4% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after acquiring an additional 11 shares in the last quarter. Verum Partners LLC boosted its position in Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after buying an additional 11 shares during the last quarter. Beaird Harris Wealth Management LLC raised its holdings in shares of Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after purchasing an additional 11 shares during the last quarter. Summit Financial Strategies Inc. lifted its holdings in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after buying an additional 11 shares during the period. Finally, Prio Wealth Limited Partnership lifted its holdings in Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after acquiring an additional 11 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.3 %

The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The company has a market cap of $778.34 billion, a price-to-earnings ratio of 88.53, a price-to-earnings-growth ratio of 3.07 and a beta of 0.42. The company’s 50-day moving average is $911.04 and its 200 day moving average is $865.33.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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 73.73% 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 period in the previous year, the firm posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 13.79 EPS 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. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

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.