Eli Lilly and Company (NYSE:LLY) Upgraded at StockNews.com

StockNews.com upgraded shares of Eli Lilly and Company (NYSE:LLY) from a hold rating to a buy rating in a report published on Friday morning.

A number of other analysts have also weighed in on LLY. Wells Fargo & Company cut their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Barclays reduced their price objective on shares of 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. Finally, Wolfe Research initiated 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. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Up 0.9 %

LLY stock opened at $878.09 on Friday. 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 firm has a 50 day moving average of $789.87 and a 200 day moving average of $843.31. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The stock has a market capitalization of $833.58 billion, a PE ratio of 74.99, a price-to-earnings-growth ratio of 1.87 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Sell-side analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company announced that its board has initiated 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 reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 51.24%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. AMF Tjanstepension AB boosted its position in Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares during the last quarter. Brendel Financial Advisors LLC boosted its holdings in Eli Lilly and Company by 5.9% in the third quarter. Brendel Financial Advisors LLC now owns 2,192 shares of the company’s stock valued at $1,942,000 after purchasing an additional 122 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its holdings in Eli Lilly and Company by 748.9% in the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 3,073 shares of the company’s stock valued at $2,722,000 after purchasing an additional 2,711 shares during the last quarter. Strategic Advisors LLC grew its stake in Eli Lilly and Company by 1.7% during the 3rd quarter. Strategic Advisors LLC now owns 1,633 shares of the company’s stock valued at $1,447,000 after purchasing an additional 28 shares in the last quarter. Finally, Boston Common Asset Management LLC increased its holdings in Eli Lilly and Company by 77.5% during the 3rd quarter. Boston Common Asset Management LLC now owns 18,563 shares of the company’s stock worth $16,446,000 after purchasing an additional 8,106 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other 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.