Brooklyn Investment Group Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

Brooklyn Investment Group cut its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,196 shares of the company's stock after selling 443 shares during the period. Eli Lilly and Company makes up about 1.2% of Brooklyn Investment Group's investment portfolio, making the stock its 13th largest holding. Brooklyn Investment Group's holdings in Eli Lilly and Company were worth $4,011,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Beck Bode LLC purchased a new position in shares of Eli Lilly and Company during the second quarter valued at approximately $15,036,000. XTX Topco Ltd purchased a new stake in Eli Lilly and Company during the 2nd quarter valued at $546,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Eli Lilly and Company by 3.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,723 shares of the company's stock valued at $7,898,000 after buying an additional 276 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Eli Lilly and Company by 5.8% in the 2nd quarter. Pacer Advisors Inc. now owns 68,017 shares of the company's stock worth $61,581,000 after buying an additional 3,713 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC grew its holdings in shares of Eli Lilly and Company by 14.8% in the second quarter. Garden State Investment Advisory Services LLC now owns 2,262 shares of the company's stock worth $2,052,000 after acquiring an additional 291 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business's stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company's stock.

Eli Lilly and Company Price Performance

LLY traded down $31.36 during trading hours on Friday, hitting $726.24. The company's stock had a trading volume of 5,497,108 shares, compared to its average volume of 2,736,766. The stock has a market cap of $689.43 billion, a price-to-earnings ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The business's 50-day moving average price is $781.14 and its 200-day moving average price is $854.35. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to analysts' expectations of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The firm's quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized 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 purchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.83%. Eli Lilly and Company's payout ratio is 56.22%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LLY. Redburn Atlantic upgraded Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Bank of America reiterated a "buy" rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 price target for the company. Four 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 company presently has an average rating of "Moderate Buy" and an average target price of $1,002.22.

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.