Mitchell Mcleod Pugh & Williams Inc. trimmed its position in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,208 shares of the company’s stock after selling 1,191 shares during the quarter. Eli Lilly and Company comprises about 0.8% of Mitchell Mcleod Pugh & Williams Inc.’s investment portfolio, making the stock its 23rd largest holding. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Eli Lilly and Company were worth $4,021,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $30,000. Highline Wealth Partners LLC raised 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 valued at $35,000 after purchasing an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC boosted its stake in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on LLY. Truist Financial lifted their price objective on shares of 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 boosted 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. Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.
Eli Lilly and Company Trading Up 2.2 %
Shares of NYSE:LLY opened at $741.98 on Wednesday. The business’s 50 day moving average price is $779.00 and its 200-day moving average price is $852.83. Eli Lilly and Company has a 1 year low of $614.82 and a 1 year high of $972.53. The firm has a market capitalization of $704.38 billion, a price-to-earnings ratio of 80.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.
Eli Lilly and Company (NYSE:LLY – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.
Eli Lilly and Company Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is 56.22%.
Eli Lilly and Company announced that its board has initiated a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling at Eli Lilly and Company
In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.
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.
Read More
- Five stocks we like better than Eli Lilly and Company
- What Does Downgrade Mean in Investing?
- SAP’s Strong Momentum: A Bullish Setup for Investors
- Differences Between Momentum Investing and Long Term Investing
- BlackRock Breaks Records: Why the Stock Still Has Room to Run
- What Makes a Stock a Good Dividend Stock?
- Duke vs. NRG: Which Energy Stock Will Power Higher Gains?
Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY – Free Report).
Receive News & Ratings for Eli Lilly and Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eli Lilly and Company and related companies with MarketBeat.com's FREE daily email newsletter.