Carnegie Investment Counsel grew its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,462 shares of the company's stock after acquiring an additional 1,194 shares during the quarter. Carnegie Investment Counsel's holdings in Eli Lilly and Company were worth $6,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in LLY. Beaird Harris Wealth Management LLC raised its stake in Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company's stock worth $464,000 after acquiring an additional 11 shares during the period. Summit Financial Strategies Inc. grew its holdings in shares of Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company's stock valued at $1,865,000 after purchasing an additional 11 shares in the last quarter. Prio Wealth Limited Partnership lifted its position in Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company's stock worth $2,136,000 after buying an additional 11 shares during the last quarter. Tcwp LLC lifted its position in Eli Lilly and Company by 2.3% in the second quarter. Tcwp LLC now owns 524 shares of the company's stock worth $474,000 after buying an additional 12 shares during the last quarter. Finally, First Community Trust NA lifted its position in shares of Eli Lilly and Company by 4.9% during the third quarter. First Community Trust NA now owns 257 shares of the company's stock worth $228,000 after purchasing an additional 12 shares during the last quarter. Institutional investors own 82.53% of the company's stock.
Eli Lilly and Company Price Performance
Shares of LLY stock traded down $31.36 during trading hours on Friday, hitting $726.24. 5,497,108 shares of the company's stock were exchanged, compared to its average volume of 2,736,766. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market cap of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The firm has a 50 day moving average of $781.14 and a two-hundred day moving average of $854.71. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week 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 for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company's quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. Sell-side analysts forecast that Eli Lilly and Company will post 13.14 EPS for the current year.
Eli Lilly and Company Increases Dividend
The company 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. This represents a $6.00 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company's dividend payout ratio is currently 56.22%.
Eli Lilly and Company announced that its Board of Directors has initiated 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 repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
Several research firms recently weighed in on LLY. Deutsche Bank Aktiengesellschaft decreased their price objective on 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. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 target price on the stock. Citigroup boosted their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Wednesday, January 1st. Finally, Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus price target of $1,002.22.
Get Our Latest Analysis on LLY
Insider Activity at Eli Lilly and Company
In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company's stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.
Eli Lilly and Company Company Profile
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Free Report)
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.
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