Joseph P. Lucia & Associates LLC Reduces Position in Eli Lilly and Company (NYSE:LLY)

Joseph P. Lucia & Associates LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 27.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432 shares of the company’s stock after selling 167 shares during the period. Joseph P. Lucia & Associates LLC’s holdings in Eli Lilly and Company were worth $334,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in Eli Lilly and Company by 87,091.7% in 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 buying an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC grew its stake 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 valued at $905,774,000 after acquiring an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC increased its holdings in 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 worth $614,990,000 after acquiring an additional 692,303 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Eli Lilly and Company by 100.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock worth $1,032,737,000 after acquiring an additional 584,866 shares during the period. Finally, Mizuho Securities USA LLC lifted its holdings in Eli Lilly and Company by 599.9% during the third quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after purchasing an additional 369,293 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other 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 completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LLY shares. Barclays reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Citigroup cut their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company decreased their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $997.22.

Eli Lilly and Company Stock Down 0.2 %

Shares of NYSE:LLY opened at $803.01 on Thursday. The company has a market cap of $762.31 billion, a price-to-earnings ratio of 86.81, a PEG ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $637.00 and a 12 month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average price of $779.81 and a 200 day moving average price of $846.28.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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). The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. As a group, equities research analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits 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 of directors believes its shares are undervalued.

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 is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company 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.