Eli Lilly and Company (NYSE:LLY) Trading Down 1.3% - What's Next?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s share price traded down 1.3% on Friday . The stock traded as low as $777.20 and last traded at $779.98. 996,536 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 3,659,811 shares. The stock had previously closed at $790.65.

Analyst Ratings Changes

Several analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Up 0.3%

The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The firm has a market capitalization of $751.88 billion, a P/E ratio of 64.55, a P/E/G ratio of 1.16 and a beta of 0.40. The company's 50-day simple moving average is $766.39 and its two-hundred day simple moving average is $799.99.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. The firm's revenue was up 45.2% on a year-over-year basis. As a group, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Institutional Trading of Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the company. WestEnd Advisors LLC grew its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in Eli Lilly and Company during the first quarter valued at $27,000. Citizens National Bank Trust Department grew its stake in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after acquiring an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Eli Lilly and Company during the first quarter valued at $40,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company during the fourth quarter valued at $43,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.