Toronto Dominion Bank Sells 130,160 Shares of Eli Lilly and Company (NYSE:LLY)

Toronto Dominion Bank cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 33.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,905 shares of the company’s stock after selling 130,160 shares during the quarter. Toronto Dominion Bank’s holdings in Eli Lilly and Company were worth $232,918,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after purchasing an additional 1,021,287 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after buying an additional 936,033 shares during the last quarter. Integrated Investment Consultants LLC boosted its holdings in shares of Eli Lilly and Company by 37,140.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after buying an additional 692,303 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Eli Lilly and Company by 71.6% in the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after buying an additional 631,312 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 0.3 %

Shares of NYSE LLY opened at $800.85 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The stock has a market cap of $760.26 billion, a P/E ratio of 86.58, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41. The firm has a 50 day moving average price of $841.04 and a two-hundred day moving average price of $871.97.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. As a group, equities analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

LLY has been the topic of a number of research analyst reports. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday. Truist Financial lifted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup increased their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Profile

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.