Eli Lilly and Company (NYSE:LLY) Shares Down 0.2% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) was down 0.2% during mid-day trading on Wednesday . The company traded as low as $780.30 and last traded at $787.82. Approximately 696,068 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 3,208,198 shares. The stock had previously closed at $789.32.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Truist Financial boosted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Barclays decreased their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised their target price on 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. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Price Performance

The stock has a market capitalization of $748.24 billion, a PE ratio of 85.21, a P/E/G ratio of 2.99 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company’s fifty day simple moving average is $854.42 and its two-hundred day simple moving average is $869.27.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of Eli Lilly and Company by 0.5% in the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after buying an additional 85,823 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Eli Lilly and Company by 2.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after acquiring an additional 157,741 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after purchasing an additional 169,391 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Eli Lilly and Company by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock valued at $3,242,296,000 after purchasing an additional 171,595 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.