Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.1% - Time to Sell?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price dropped 1.1% on Wednesday . The stock traded as low as $733.33 and last traded at $738.91. Approximately 858,512 shares changed hands during trading, a decline of 76% from the average daily volume of 3,596,965 shares. The stock had previously closed at $747.01.

Analysts Set New Price Targets

LLY has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Guggenheim reaffirmed a "buy" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Finally, UBS Group cut their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,011.37.

Eli Lilly and Company Stock Down 2.1%

The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market capitalization of $693.03 billion, a PE ratio of 62.58, a PEG ratio of 1.40 and a beta of 0.48. The company has a 50 day moving average price of $795.44 and a 200-day moving average price of $804.82.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period last year, the firm posted $2.58 earnings per share. Eli Lilly and Company's quarterly revenue was up 45.2% on a year-over-year basis. As a group, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.82%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently modified their holdings of the stock. FWG Holdings LLC raised its holdings in Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after acquiring an additional 12 shares during the last quarter. Morling Financial Advisors LLC raised its stake in shares of Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after purchasing an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC raised its stake in shares of Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after purchasing an additional 12 shares during the last quarter. Applied Finance Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after purchasing an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp lifted its holdings in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. 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.

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