Lindbrook Capital LLC Sells 519 Shares of Eli Lilly and Company (NYSE:LLY)

Lindbrook Capital LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 7.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,330 shares of the company’s stock after selling 519 shares during the period. Lindbrook Capital LLC’s holdings in Eli Lilly and Company were worth $4,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. United Advisor Group LLC bought a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at about $532,000. Pittenger & Anderson Inc. raised its holdings in shares of Eli Lilly and Company by 13.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 1,285 shares of the company’s stock valued at $1,138,000 after purchasing an additional 156 shares during the period. Heritage Investors Management Corp raised its holdings in shares of Eli Lilly and Company by 13.5% in the 3rd quarter. Heritage Investors Management Corp now owns 1,149 shares of the company’s stock valued at $1,018,000 after purchasing an additional 137 shares during the period. Balentine LLC raised its holdings in shares of Eli Lilly and Company by 6.7% in the 3rd quarter. Balentine LLC now owns 1,329 shares of the company’s stock valued at $1,177,000 after purchasing an additional 84 shares during the period. Finally, Avidian Wealth Enterprises LLC raised its holdings in shares of Eli Lilly and Company by 3.9% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 4,387 shares of the company’s stock valued at $3,887,000 after purchasing an additional 163 shares during the period. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on LLY shares. Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Citigroup decreased their price target 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, January 28th. Finally, Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,007.50.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $930.12 on Thursday. The company has a 50 day moving average of $822.55 and a 200-day moving average of $848.61. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a market cap of $881.91 billion, a PE ratio of 79.43, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.65%. Eli Lilly and Company’s dividend payout ratio is presently 51.24%.

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

About Eli Lilly and Company

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.