IAM Advisory LLC Sells 115 Shares of Eli Lilly and Company (NYSE:LLY)

IAM Advisory LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,375 shares of the company’s stock after selling 115 shares during the period. Eli Lilly and Company makes up approximately 1.1% of IAM Advisory LLC’s holdings, making the stock its 17th biggest holding. IAM Advisory LLC’s holdings in Eli Lilly and Company were worth $4,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beck Bode LLC acquired a new position in shares of Eli Lilly and Company during the 2nd quarter worth about $15,036,000. XTX Topco Ltd bought a new stake in Eli Lilly and Company during the second quarter worth about $546,000. Pacer Advisors Inc. boosted its position in Eli Lilly and Company by 5.8% during the second quarter. Pacer Advisors Inc. now owns 68,017 shares of the company’s stock valued at $61,581,000 after purchasing an additional 3,713 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in Eli Lilly and Company by 1.9% in the second quarter. Westwood Holdings Group Inc. now owns 3,912 shares of the company’s stock valued at $3,542,000 after purchasing an additional 73 shares in the last quarter. Finally, Kowal Investment Group LLC increased its position in shares of Eli Lilly and Company by 16.7% during the 2nd quarter. Kowal Investment Group LLC now owns 1,287 shares of the company’s stock worth $1,165,000 after purchasing an additional 184 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LLY has been the subject of several analyst reports. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $726.24 on Monday. The firm has a 50-day moving average price of $781.14 and a two-hundred day moving average price of $854.35. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month high of $972.53. The company has a market capitalization of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. Analysts anticipate that Eli Lilly and Company will post 13.14 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 64.86%.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value 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 trade represents a 14.11 % decrease in their position. The transaction was disclosed in a 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.