Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.6% - Here's Why

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares traded down 0.6% on Monday . The company traded as low as $747.56 and last traded at $753.18. 1,244,157 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 3,590,590 shares. The stock had previously closed at $757.39.

Analysts Set New Price Targets

LLY has been the subject of a number of research 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 stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Finally, Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Stock Down 0.2%

The firm's 50 day moving average price is $791.44 and its two-hundred day moving average price is $803.64. The firm has a market capitalization of $676.67 billion, a PE ratio of 60.97, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

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

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.84%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Institutional Trading of Eli Lilly and Company

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WestEnd Advisors LLC lifted its position in shares of Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after purchasing an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in Eli Lilly and Company in the first quarter valued at about $27,000. Citizens National Bank Trust Department raised 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 buying an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company during the 1st quarter worth approximately $40,000. Finally, FPC Investment Advisory Inc. grew its position in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

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.