Brokerages Set Eli Lilly and Company (NYSE:LLY) PT at $997.50

Shares of Eli Lilly and Company (NYSE:LLY) have received an average recommendation of “Moderate Buy” from the twenty analysts that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $1,000.28.

A number of analysts recently commented on LLY shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $881.83 on Thursday. The stock has a market capitalization of $836.12 billion, a price-to-earnings ratio of 75.31, a PEG ratio of 1.40 and a beta of 0.42. The business’s 50 day moving average is $803.38 and its two-hundred day moving average is $847.92. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. 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, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has initiated 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 repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds have recently modified their holdings of LLY. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the period. FPC Investment Advisory Inc. grew its holdings in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $48,000. 82.53% of the stock is 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.