Eli Lilly and Company (NYSE:LLY) Stock Price Up 0.1% on Analyst Upgrade

Eli Lilly and Company (NYSE:LLY)’s stock price shot up 0.1% during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $1,029.00 to $1,038.00. Truist Financial currently has a buy rating on the stock. Eli Lilly and Company traded as high as $814.50 and last traded at $811.29. 716,611 shares traded hands during trading, a decline of 80% from the average session volume of 3,657,302 shares. The stock had previously closed at $810.43.

LLY has been the subject of several other research reports. StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft reduced 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 report on Monday, November 4th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $997.50.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by insiders.

Institutional Trading of Eli Lilly and Company

A number of large investors have recently bought and sold shares of LLY. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC increased its position in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC raised its stake in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the period. Finally, FPC Investment Advisory Inc. grew its stake in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

The business has a 50-day moving average price of $784.69 and a two-hundred day moving average price of $843.49. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $785.48 billion, a price-to-earnings ratio of 89.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. This is a positive change 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 (DPR) is 56.22%.

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

Eli Lilly and Company Company Profile

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.