Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.3% - Time to Buy?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s share price rose 1.3% during trading on Wednesday . The company traded as high as $794.00 and last traded at $787.83. Approximately 752,333 shares traded hands during trading, a decline of 79% from the average daily volume of 3,656,125 shares. The stock had previously closed at $777.66.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Guggenheim boosted their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday. Wall Street Zen downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday. Finally, UBS Group reduced their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $751.88 billion, a price-to-earnings ratio of 64.55, a P/E/G ratio of 1.15 and a beta of 0.40. The stock's 50 day moving average price is $767.03 and its 200 day moving average price is $800.01. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 annualized dividend and a yield of 0.76%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors have recently bought and sold shares of LLY. Capital Advantage Inc. increased its holdings in shares of Eli Lilly and Company by 5.1% in the second quarter. Capital Advantage Inc. now owns 600 shares of the company's stock valued at $468,000 after purchasing an additional 29 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Eli Lilly and Company by 31.8% during the second quarter. Farther Finance Advisors LLC now owns 23,495 shares of the company's stock worth $18,315,000 after acquiring an additional 5,670 shares during the last quarter. Busey Bank boosted its holdings in shares of Eli Lilly and Company by 2.5% during the second quarter. Busey Bank now owns 24,376 shares of the company's stock worth $19,002,000 after acquiring an additional 601 shares during the period. Silver Oak Securities Incorporated grew its position in shares of Eli Lilly and Company by 3.2% in the second quarter. Silver Oak Securities Incorporated now owns 2,873 shares of the company's stock valued at $2,239,000 after purchasing an additional 89 shares during the last quarter. Finally, CX Institutional lifted its holdings in Eli Lilly and Company by 6.4% during the 2nd quarter. CX Institutional now owns 28,967 shares of the company's stock worth $22,580,000 after purchasing an additional 1,744 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

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.