Eli Lilly and Company (NYSE:LLY) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,464 shares of the company's stock after selling 8,000 shares during the period. Eli Lilly and Company comprises about 3.4% of Cohen Klingenstein LLC's investment portfolio, making the stock its 8th largest position. Cohen Klingenstein LLC's holdings in Eli Lilly and Company were worth $100,718,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company's stock worth $15,089,563,000 after purchasing an additional 85,823 shares during the period. International Assets Investment Management LLC lifted its position in shares of Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock worth $11,041,631,000 after buying an additional 12,448,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Eli Lilly and Company by 2.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company's stock valued at $5,417,970,000 after buying an additional 157,741 shares in the last quarter. Fisher Asset Management LLC grew its position in Eli Lilly and Company by 3.5% in the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company's stock valued at $4,481,175,000 after acquiring an additional 169,391 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Eli Lilly and Company by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company's stock valued at $2,741,832,000 after acquiring an additional 22,392 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LLY shares. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Wednesday, January 1st. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Bank of America reaffirmed a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Barclays cut their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Finally, Citigroup increased 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 report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,002.22.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Down 4.1 %

Shares of Eli Lilly and Company stock traded down $31.36 on Monday, hitting $726.24. The company had a trading volume of 5,497,108 shares, compared to its average volume of 2,736,766. The stock has a 50-day moving average of $781.14 and a 200-day moving average of $854.04. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a twelve month low of $612.70 and a twelve month high of $972.53. The firm has a market capitalization 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.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. Research analysts predict that Eli Lilly and Company will post 13.14 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company's dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Eli Lilly and Company 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.