Eli Lilly and Company (NYSE:LLY) Trading Down 0.6% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s share price was down 0.6% during trading on Monday . The company traded as low as $772.55 and last traded at $777.00. Approximately 853,460 shares changed hands during trading, a decline of 42% from the average daily volume of 1,468,521 shares. The stock had previously closed at $781.98.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Redburn Atlantic upgraded Eli Lilly and Company to a "hold" rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Citigroup lifted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 target price for the company. Finally, Wolfe Research began 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. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Down 2.3 %

The company has a market cap of $725.07 billion, a P/E ratio of 82.57, a PEG ratio of 2.99 and a beta of 0.41. 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 business has a 50 day moving average price of $791.18 and a 200-day moving average price of $862.49.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the company posted $0.10 earnings per share. The business's revenue was up 20.4% compared to the same quarter last year. Analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.79%. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's dividend payout ratio (DPR) is presently 64.86%.

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

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm's stock in a transaction dated 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 owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC increased its stake in shares of Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company's stock worth $464,000 after purchasing an additional 11 shares during the period. Summit Financial Strategies Inc. increased its position in Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company's stock worth $1,865,000 after buying an additional 11 shares during the period. Prio Wealth Limited Partnership lifted its holdings in shares of Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company's stock worth $2,136,000 after buying an additional 11 shares in the last quarter. O Brien Greene & Co. Inc boosted its position in shares of Eli Lilly and Company by 1.3% in the second quarter. O Brien Greene & Co. Inc now owns 955 shares of the company's stock valued at $865,000 after acquiring an additional 12 shares during the period. Finally, Tcwp LLC grew its stake in shares of Eli Lilly and Company by 2.3% in the second quarter. Tcwp LLC now owns 524 shares of the company's stock valued at $474,000 after acquiring an additional 12 shares in the last quarter. 82.53% of the stock is owned by 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.