Eli Lilly and Company (NYSE:LLY) Shares Up 4.1% – What’s Next?

Eli Lilly and Company (NYSE:LLY) shot up 4.1% on Thursday . The stock traded as high as $872.66 and last traded at $876.52. 2,235,191 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 3,781,553 shares. The stock had previously closed at $842.18.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Barclays lowered their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday. Finally, 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 for the company in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Price Performance

The stock has a market cap of $833.59 billion, a price-to-earnings ratio of 74.99, a P/E/G ratio of 1.87 and a beta of 0.42. 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 company’s fifty day moving average is $789.87 and its two-hundred day moving average is $843.55.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. As a group, research analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 44.41%.

Eli Lilly and Company announced that its board has initiated a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Financial Strategies Inc. boosted its holdings in Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares during the period. Prio Wealth Limited Partnership raised its position in Eli Lilly and Company by 0.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after purchasing an additional 11 shares in the last quarter. Hummer Financial Advisory Services Inc boosted its stake in shares of Eli Lilly and Company by 1.0% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock valued at $1,126,000 after buying an additional 12 shares during the period. James Hambro & Partners LLP grew its position in shares of Eli Lilly and Company by 3.7% during the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock worth $301,000 after buying an additional 12 shares in the last quarter. Finally, Inscription Capital LLC increased its stake in shares of Eli Lilly and Company by 1.0% during the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after buying an additional 12 shares during the period. Hedge funds and other 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.