Harbour Trust & Investment Management Co Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Harbour Trust & Investment Management Co reduced its position in Eli Lilly and Company (NYSE:LLY) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,375 shares of the company’s stock after selling 71 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Eli Lilly and Company were worth $4,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in LLY. AMF Tjanstepension AB raised its position in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after buying an additional 176,552 shares during the period. Values Added Financial LLC raised its position in Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after purchasing an additional 17 shares during the period. Retirement Planning Group LLC purchased a new position in Eli Lilly and Company in the third quarter valued at about $306,000. Carnegie Investment Counsel raised its position in Eli Lilly and Company by 6.7% in the third quarter. Carnegie Investment Counsel now owns 7,268 shares of the company’s stock valued at $6,439,000 after purchasing an additional 456 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Eli Lilly and Company by 2.6% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 64,775 shares of the company’s stock valued at $57,387,000 after purchasing an additional 1,614 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 1.1 %

NYSE:LLY opened at $868.57 on Tuesday. The company has a market capitalization of $824.55 billion, a price-to-earnings ratio of 74.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The stock has a 50-day simple moving average of $789.87 and a 200 day simple moving average of $843.19. 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 (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Sell-side analysts predict that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership 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. Shareholders of record on Friday, February 14th will be issued 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 yield of 0.69%. 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 currently 44.41%.

Wall Street Analyst Weigh In

LLY has been the topic of several research reports. Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company lowered their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

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.