Eli Lilly and Company (NYSE:LLY) Shares Sold by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY lowered its position in Eli Lilly and Company (NYSE:LLY) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,698 shares of the company’s stock after selling 52 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Eli Lilly and Company were worth $1,311,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LLY. Garner Asset Management Corp raised its stake in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares during the period. Key Financial Inc boosted its position in shares of Eli Lilly and Company by 1.5% in the third quarter. Key Financial Inc now owns 883 shares of the company’s stock worth $782,000 after buying an additional 13 shares during the period. Shoker Investment Counsel Inc. grew its holdings in shares of Eli Lilly and Company by 2.0% during the third quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after buying an additional 13 shares in the last quarter. Vestia Personal Wealth Advisors raised its position in Eli Lilly and Company by 1.7% during the third quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock valued at $680,000 after buying an additional 13 shares during the period. Finally, Altrius Capital Management Inc raised its position in Eli Lilly and Company by 1.0% during the third quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock valued at $1,138,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of research reports. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company lowered their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $920.44 on Friday. The stock has a market capitalization of $872.73 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42. The business has a 50-day moving average of $814.88 and a two-hundred day moving average of $849.10. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS 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. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 51.24%.

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