Eli Lilly and Company (NYSE:LLY) Shares Down 0.2% on Analyst Downgrade

Shares of Eli Lilly and Company (NYSE:LLY) were down 0.2% on Tuesday after Citigroup lowered their price target on the stock from $1,250.00 to $1,190.00. Citigroup currently has a buy rating on the stock. Eli Lilly and Company traded as low as $800.11 and last traded at $806.50. Approximately 703,587 shares traded hands during trading, a decline of 82% from the average daily volume of 3,992,015 shares. The stock had previously closed at $808.17.

A number of other analysts also recently issued reports on LLY. Wells Fargo & Company lowered their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Truist Financial upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.22.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Eli Lilly and Company

Institutional investors have recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC lifted its holdings in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC grew its position in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

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 company has a 50-day moving average of $778.30 and a 200-day moving average of $847.30. The stock has a market capitalization of $764.08 billion, a price-to-earnings ratio of 87.01, a P/E/G ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. As a group, equities research analysts expect that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 0.75%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Eli Lilly and Company declared that its board has authorized 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 purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.