Eli Lilly and Company (NYSE:LLY) Shares Down 1.7% – Time to Sell?

Shares of Eli Lilly and Company (NYSE:LLY) fell 1.7% during mid-day trading on Thursday . The company traded as low as $794.00 and last traded at $798.29. 1,325,288 shares changed hands during trading, a decline of 57% from the average session volume of 3,106,075 shares. The stock had previously closed at $811.81.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LLY shares. Barclays cut their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday. They set an “outperform” rating and a $1,000.00 price target for the company. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Guggenheim upped their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Stock Down 5.0 %

The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The business has a fifty day simple moving average of $882.65 and a two-hundred day simple moving average of $869.77. The company has a market cap of $708.09 billion, a PE ratio of 80.64, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.70%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after purchasing an additional 85,823 shares during the period. Savoie Capital LLC lifted its holdings in shares of Eli Lilly and Company by 7.7% in the 3rd quarter. Savoie Capital LLC now owns 18,216 shares of the company’s stock worth $16,138,000 after acquiring an additional 1,300 shares during the last quarter. Valued Retirements Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $328,000. 3Chopt Investment Partners LLC increased its holdings in Eli Lilly and Company by 35.6% in the 3rd quarter. 3Chopt Investment Partners LLC now owns 5,078 shares of the company’s stock valued at $4,499,000 after purchasing an additional 1,332 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in Eli Lilly and Company by 10.2% in the third quarter. Prestige Wealth Management Group LLC now owns 594 shares of the company’s stock valued at $526,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds 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.