Eli Lilly and Company (NYSE:LLY) Stock Price Up 1% – What’s Next?

Shares of Eli Lilly and Company (NYSE:LLY) shot up 1% during mid-day trading on Thursday . The company traded as high as $925.50 and last traded at $924.02. 1,003,913 shares were traded during trading, a decline of 73% from the average session volume of 3,685,422 shares. The stock had previously closed at $915.01.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Citigroup cut their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Finally, StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Stock Performance

The stock has a market capitalization of $857.87 billion, a P/E ratio of 77.26, a P/E/G ratio of 1.40 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock has a 50 day simple moving average of $808.88 and a two-hundred day simple moving average of $848.46.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost 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 is presently 51.24%.

Eli Lilly and Company declared that its board has authorized a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds have recently added to or reduced their stakes in LLY. AMF Tjanstepension AB raised its holdings 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 acquiring an additional 176,552 shares during the period. Values Added Financial LLC lifted its holdings in Eli Lilly and Company by 4.9% during the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after purchasing an additional 17 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in Eli Lilly and Company by 8.6% in the 3rd quarter. Pallas Capital Advisors LLC now owns 16,686 shares of the company’s stock valued at $14,873,000 after purchasing an additional 1,319 shares during the period. Worth Financial Advisory Group LLC acquired a new position in Eli Lilly and Company in the 3rd quarter valued at $629,000. Finally, Smith Group Asset Management LLC grew its holdings in Eli Lilly and Company by 46.6% in the 3rd quarter. Smith Group Asset Management LLC now owns 2,189 shares of the company’s stock valued at $1,939,000 after buying an additional 696 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.