Eli Lilly and Company (NYSE:LLY) Stock Price Up 0.5% - Should You Buy?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s share price rose 0.5% during trading on Tuesday . The stock traded as high as $739.44 and last traded at $729.03. Approximately 1,136,759 shares traded hands during trading, a decline of 72% from the average daily volume of 4,014,761 shares. The stock had previously closed at $725.72.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LLY. Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Wednesday, January 1st. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 price target for the company. Bank of America reiterated a "buy" rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Citigroup increased their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,002.22.

Eli Lilly and Company Price Performance

The company has a 50-day moving average of $779.00 and a 200 day moving average of $852.83. The firm has a market cap of $701.94 billion, a P/E ratio of 79.98, a P/E/G ratio of 1.52 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that Eli Lilly and Company will post 12.98 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's payout ratio is 56.22%.

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

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at $30,000. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC raised its holdings in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company's stock worth $41,000 after buying an additional 16 shares during the period. Finally, West Financial Advisors LLC bought a new stake in Eli Lilly and Company in the 3rd quarter valued at $58,000. Institutional investors 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.

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