Eli Lilly and Company (NYSE:LLY) Shares Sold by Asset Dedication LLC

Asset Dedication LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 30.5% in the 4th quarter, Holdings Channel reports. The firm owned 5,050 shares of the company’s stock after selling 2,215 shares during the period. Asset Dedication LLC’s holdings in Eli Lilly and Company were worth $3,899,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC raised its holdings in 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 acquiring an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC lifted 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 boosted its holdings in shares of 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 owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Price Performance

Shares of LLY opened at $823.59 on Friday. The firm’s 50 day moving average price is $780.80 and its 200 day moving average price is $845.98. The company has a market cap of $781.85 billion, a P/E ratio of 89.04, a PEG ratio of 1.59 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 has a fifty-two week low of $637.00 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LLY shares. Truist Financial lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of 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. Citigroup reduced their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $997.22.

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.