Eli Lilly and Company (NYSE:LLY) Trading Down 1.3% - Here's Why

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price was down 1.3% during trading on Friday . The stock traded as low as $782.05 and last traded at $784.45. Approximately 871,184 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 3,662,786 shares. The stock had previously closed at $795.12.

Wall Street Analyst Weigh In

LLY has been the topic of several research analyst reports. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Guggenheim restated a "buy" rating and set a $936.00 price objective on shares of Eli Lilly and Company in a report on Friday, June 20th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company Trading Down 1.4%

The firm has a 50-day moving average of $781.50 and a two-hundred day moving average of $800.11. The firm has a market capitalization of $742.87 billion, a P/E ratio of 63.77, a P/E/G ratio of 1.16 and a beta of 0.40. 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 earnings results 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). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the firm posted $2.58 EPS. The business's quarterly revenue was up 45.2% compared to the same quarter last year. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 0.77%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LLY. PNC Financial Services Group Inc. raised its holdings in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the period. GAMMA Investing LLC grew its stake in shares of Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after buying an additional 14,852,076 shares during the period. Norges Bank bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $8,407,908,000. Nuveen LLC acquired a new position in Eli Lilly and Company during the 1st quarter worth approximately $4,613,912,000. Finally, Proficio Capital Partners LLC raised its stake in Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after buying an additional 5,197,038 shares during the period. 82.53% of the stock is owned by 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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