Eli Lilly and Company (NYSE:LLY) Trading Down 0.5%

Eli Lilly and Company (NYSE:LLY) dropped 0.5% during trading on Wednesday . The company traded as low as $795.25 and last traded at $799.45. Approximately 505,426 shares were traded during trading, a decline of 83% from the average daily volume of 2,992,309 shares. The stock had previously closed at $803.17.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent research reports. Truist Financial upped their price target on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group increased their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. DZ Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective on the stock. in a report on Wednesday, February 21st. Finally, Argus increased their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $769.53.

Eli Lilly and Company Price Performance

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The firm has a market capitalization of $758.68 billion, a P/E ratio of 117.74, a price-to-earnings-growth ratio of 1.55 and a beta of 0.37. The business has a 50 day simple moving average of $762.62 and a two-hundred day simple moving average of $689.24.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. On average, sell-side analysts expect that Eli Lilly and Company will post 13.78 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.65%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after acquiring an additional 13 shares during the period. Innova Wealth Partners boosted its holdings in Eli Lilly and Company by 1.2% during the 1st quarter. Innova Wealth Partners now owns 1,068 shares of the company’s stock valued at $831,000 after acquiring an additional 13 shares during the period. Twin Peaks Wealth Advisors LLC lifted its holdings in Eli Lilly and Company by 2.0% in the 1st quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock worth $559,000 after buying an additional 14 shares during the period. Pitti Group Wealth Management LLC lifted its holdings in Eli Lilly and Company by 0.8% in the 1st quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company’s stock worth $1,271,000 after buying an additional 14 shares during the period. Finally, Ulland Investment Advisors LLC lifted its holdings in Eli Lilly and Company by 7.0% in the 1st quarter. Ulland Investment Advisors LLC now owns 214 shares of the company’s stock worth $166,000 after buying an additional 14 shares during the period. 82.53% of the stock is currently owned by hedge funds and other 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.