Eli Lilly and Company (NYSE:LLY) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Eli Lilly and Company (NYSE:LLY) from a buy rating to a hold rating in a research note released on Tuesday morning.

Other analysts also recently issued research reports about the stock. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research assumed 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 price target on the stock. Barclays decreased their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $795.67 on Tuesday. The firm has a 50-day moving average of $816.24 and a two-hundred day moving average of $869.21. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market cap of $755.35 billion, a P/E ratio of 86.02, a PEG ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $567.64 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS 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 business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts expect that Eli Lilly and Company will post 13.18 earnings per share 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. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.75%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Eli Lilly and Company announced that its board has authorized a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Independent Solutions Wealth Management LLC increased its stake in Eli Lilly and Company by 6.0% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 872 shares of the company’s stock valued at $773,000 after buying an additional 49 shares during the period. SMART Wealth LLC acquired a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $457,000. Exome Asset Management LLC raised its holdings in Eli Lilly and Company by 7.7% during the third quarter. Exome Asset Management LLC now owns 10,447 shares of the company’s stock worth $9,255,000 after purchasing an additional 747 shares in the last quarter. DGS Capital Management LLC lifted its position in Eli Lilly and Company by 7.2% in the third quarter. DGS Capital Management LLC now owns 5,239 shares of the company’s stock worth $4,641,000 after purchasing an additional 350 shares during the period. Finally, Garden State Investment Advisory Services LLC boosted its stake in Eli Lilly and Company by 16.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 2,634 shares of the company’s stock valued at $2,338,000 after purchasing an additional 372 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

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.