Eli Lilly and Company Shares Rise 0.1% Following Analyst Upgrade

Eli Lilly and Company (NYSE:LLY) saw a slight increase in its share price, up by 0.1% on Monday. This rise followed an upgrade from Truist Financial, which raised its price target on the stock from $1,029.00 to $1,038.00 while maintaining a buy rating. During intraday trading, Eli Lilly's shares traded as high as $817.96 and were last seen at $811.52. Approximately 918,531 shares were exchanged, marking a 75% decrease in volume compared to the average trading volume of 3,708,159 shares. The previous closing price for the stock was $811.08.

Recent Analyst Activity

In addition to Truist Financial, several other analysts have scrutinized Eli Lilly's performance. StockNews.com recently downgraded the stock from a "buy" to a "hold" rating. Meanwhile, Sanford C. Bernstein initiated coverage on October 17th, giving Eli Lilly an "outperform" rating along with a target price of $1,100. Barclays lowered its price target from $1,025 to $975, while Citigroup reduced its price objective from $1,250 to $1,190, maintaining a buy rating. Bank of America also affirmed a buy rating with a target price of $997. Overall, data from MarketBeat.com indicates that Eli Lilly holds a consensus rating of "Moderate Buy" with an average price target of $997.50.

Insider Transactions

In related news, the Chief Accounting Officer (CAO) Donald A. Zakrowski sold 900 shares of Eli Lilly stock on November 8th. This transaction was valued at an average price of $803.38, totaling approximately $723,042. Following the sale, Zakrowski now owns 5,480 shares in the company, which amounts to about $4.4 million. This sale represents a decrease of 14.11% in his holdings. Such insider trades are typically disclosed in filings with the Securities and Exchange Commission.

Changes by Institutional Investors

Recent activity from major institutional investors indicates a dynamic shift in the stock's ownership. For example, Geode Capital Management increased its position in Eli Lilly by 0.5%, acquiring an additional 85,823 shares, bringing its total to over 17 million shares valued at approximately $15.09 billion. International Assets Investment Management made a dramatic increase in holdings by 87,091.7%, now owning over 12 million shares worth $11.04 billion. Other notable firms such as UBS Asset Management and Fisher Asset Management also raised their stakes, indicating a positive outlook among institutional investors. Currently, institutional and hedge funds hold approximately 82.53% of Eli Lilly’s stock.

Financials Overview

Investors should note that Eli Lilly's financial ratios suggest a healthy standing; the company has a current ratio of 1.27 and a quick ratio of 0.97. The debt-to-equity ratio stands at 2.03. The fifty-day moving average price is $783.56, while the two-hundred day moving average price is $843.75. The market capitalization of Eli Lilly is around $770.35 billion, with a price-to-earnings (P/E) ratio of 87.73.

Dividend and Stock Buyback Announcement

In addition to the analyst updates, Eli Lilly has declared a quarterly dividend of $1.50 per share, set to be paid on March 10th. Shareholders who are on record as of February 14th will receive this dividend, which marks an increase from the previous quarterly amount of $1.30. This corresponds to an annualized dividend yield of 0.74%. Furthermore, Eli Lilly's board has authorized a stock buyback program worth $15 billion, intending to repurchase up to 2% of its shares. Such buyback plans often indicate confidence from management regarding the value of the company's stock.

Company Background

Eli Lilly and Company is a global leader in human pharmaceuticals, specializing in the discovery, development, and marketing of a wide range of medications. Its portfolio includes products for diabetes management, such as Basaglar and Humalog, as well as treatments for obesity like Zepbound.

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