Eli Lilly and Company (NYSE:LLY) Trading Down 0.6% – Here’s What Happened

Shares of Eli Lilly and Company (NYSE:LLY) traded down 0.6% during trading on Monday . The company traded as low as $747.56 and last traded at $753.18. 1,244,157 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 3,590,590 shares. The stock had previously closed at $757.39.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Stock Performance

The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market cap of $709.09 billion, a PE ratio of 63.95, a PEG ratio of 1.40 and a beta of 0.48. The stock has a fifty day simple moving average of $795.44 and a two-hundred day simple moving average of $804.82.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the prior year, the business earned $2.58 EPS. The company’s quarterly revenue was up 45.2% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.80%. Eli Lilly and Company’s payout ratio is presently 48.82%.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Institutional investors and hedge funds have recently modified their holdings of the company. Acorns Advisers LLC boosted its stake in Eli Lilly and Company by 9.5% in the first quarter. Acorns Advisers LLC now owns 1,239 shares of the company’s stock worth $1,023,000 after purchasing an additional 107 shares in the last quarter. Strive Asset Management LLC grew its stake in Eli Lilly and Company by 25.8% in the first quarter. Strive Asset Management LLC now owns 752 shares of the company’s stock valued at $621,000 after purchasing an additional 154 shares in the last quarter. Integrity Alliance LLC. lifted its position in shares of Eli Lilly and Company by 860.6% in the first quarter. Integrity Alliance LLC. now owns 10,307 shares of the company’s stock valued at $8,512,000 after buying an additional 9,234 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $988,000. Finally, Aspen Investment Management Inc lifted its holdings in Eli Lilly and Company by 5.0% during the 1st quarter. Aspen Investment Management Inc now owns 973 shares of the company’s stock worth $804,000 after purchasing an additional 46 shares during the last quarter. 82.53% of the stock is currently owned by 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.