Eli Lilly and Company (NYSE:LLY) Trading Down 1.7% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) dropped 1.7% during mid-day trading on Monday . The company traded as low as $762.03 and last traded at $767.12. Approximately 834,820 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 3,657,191 shares. The stock had previously closed at $780.67.

Analysts Set New Price Targets

LLY has been the subject of a number of analyst reports. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. UBS Group reduced their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Finally, Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Stock Down 1.0%

The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The company's 50-day simple moving average is $773.61 and its 200 day simple moving average is $800.26. The firm has a market cap of $732.43 billion, a P/E ratio of 62.88, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the business earned $2.58 EPS. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. Research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued 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 0.78%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors have recently made changes to their positions in LLY. WestEnd Advisors LLC lifted its holdings in Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after buying an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC bought a new stake in Eli Lilly and Company during the 1st quarter valued at about $27,000. Citizens National Bank Trust Department lifted its holdings in Eli Lilly and Company by 180.0% during the 1st 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 stake in Eli Lilly and Company during the 1st quarter valued at about $40,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company during the 4th quarter valued at about $43,000. 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.