Eli Lilly and Company (NYSE:LLY) Trading Down 1% – What’s Next?

Eli Lilly and Company (NYSE:LLY)’s stock price traded down 1% during mid-day trading on Tuesday . The stock traded as low as $788.94 and last traded at $799.17. 924,971 shares were traded during mid-day trading, a decline of 75% from the average session volume of 3,644,508 shares. The stock had previously closed at $807.58.

Analysts Set New Price Targets

A number of brokerages recently commented on LLY. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, UBS Group cut their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Stock Down 1.8%

The company has a market cap of $751.92 billion, a price-to-earnings ratio of 67.69, a PEG ratio of 1.40 and a beta of 0.40. The business has a fifty day moving average of $777.10 and a two-hundred day moving average of $801.77. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm’s revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.58 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date was Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Institutional Trading of Eli Lilly and Company

Institutional investors and hedge funds have recently made changes to their positions in the stock. FWG Holdings LLC lifted its holdings in shares of Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC increased its holdings in shares of Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after acquiring an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after acquiring an additional 12 shares in the last quarter. Applied Finance Capital Management LLC boosted its stake in Eli Lilly and Company by 1.4% during the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock valued at $660,000 after purchasing an additional 12 shares during the last quarter. Finally, Garner Asset Management Corp increased its holdings in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds 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.