Eli Lilly and Company (NYSE:LLY) Trading Down 3.1% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) fell 3.1% on Monday . The company traded as low as $841.49 and last traded at $844.82. 3,219,625 shares traded hands during trading, a decline of 21% from the average session volume of 4,056,943 shares. The stock had previously closed at $871.86.

Analyst Ratings Changes

A number of brokerages have weighed in on LLY. Redburn Atlantic upgraded Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. Truist Financial lifted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 target price for the company. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Finally, Barclays reduced their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $997.50.

Eli Lilly and Company Stock Up 0.8 %

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market cap of $829.49 billion, a PE ratio of 74.62, a P/E/G ratio of 1.37 and a beta of 0.42. The business has a fifty day moving average price of $799.63 and a two-hundred day moving average price of $846.07.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts' consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. This is an increase from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's payout ratio is 51.24%.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LLY. International Assets Investment Management LLC grew its stake in Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $8,407,908,000. Proficio Capital Partners LLC lifted its position in shares of Eli Lilly and Company by 100,387.1% in the fourth 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 last quarter. Wellington Management Group LLP lifted its position in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after buying an additional 1,645,222 shares during the last quarter. Hedge funds and other 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.