Eli Lilly and Company (NYSE:LLY) Shares Down 3.3% – What’s Next?

Eli Lilly and Company (NYSE:LLY) was down 3.3% on Friday . The stock traded as low as $750.68 and last traded at $760.59. Approximately 2,343,248 shares traded hands during trading, a decline of 25% from the average daily volume of 3,115,656 shares. The stock had previously closed at $786.23.

Analysts Set New Price Targets

Several brokerages have issued reports on LLY. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Citigroup boosted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Berenberg Bank raised their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Four 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 has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Down 4.9 %

The stock has a market cap of $708.38 billion, a price-to-earnings ratio of 80.67, a P/E/G ratio of 3.07 and a beta of 0.43. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm’s 50 day moving average is $882.65 and its two-hundred day moving average is $869.77.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the firm earned $0.10 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts predict that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. 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 Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds have recently modified their holdings of LLY. Virtu Financial LLC purchased a new stake in shares of Eli Lilly and Company during the 1st quarter valued at $2,138,000. China Universal Asset Management Co. Ltd. increased its stake in Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after acquiring an additional 1,620 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in Eli Lilly and Company by 5.4% during the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after acquiring an additional 1,163 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth about $239,000. Finally, Long Run Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $209,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.