Eli Lilly and Company (NYSE:LLY) Given New $1,190.00 Price Target at Citigroup

Eli Lilly and Company (NYSE:LLY) had its price target lowered by Citigroup from $1,250.00 to $1,190.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently commented on LLY. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $997.22.

Eli Lilly and Company Stock Performance

LLY stock opened at $804.87 on Tuesday. The business’s fifty day moving average is $778.30 and its 200-day moving average is $847.30. 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 cap of $764.08 billion, a P/E ratio of 87.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $637.00 and a twelve month high of $972.53.

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

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 5,480 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Hedge funds have recently bought and sold shares of the stock. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company during the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the third quarter worth approximately $30,000. Highline Wealth Partners LLC lifted its position in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.