North Point Portfolio Managers Corp OH trimmed its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 85.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 726 shares of the company's stock after selling 4,400 shares during the period. North Point Portfolio Managers Corp OH's holdings in Eli Lilly and Company were worth $560,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Webster Bank N. A. boosted its stake in shares of Eli Lilly and Company by 7.3% during the 4th quarter. Webster Bank N. A. now owns 2,097 shares of the company's stock worth $1,619,000 after acquiring an additional 142 shares during the period. Pacer Advisors Inc. raised its holdings in Eli Lilly and Company by 6.7% in the 4th quarter. Pacer Advisors Inc. now owns 62,733 shares of the company's stock valued at $48,430,000 after acquiring an additional 3,934 shares during the period. United Asset Strategies Inc. raised its holdings in Eli Lilly and Company by 3.9% in the 4th quarter. United Asset Strategies Inc. now owns 4,304 shares of the company's stock valued at $3,323,000 after acquiring an additional 161 shares during the period. Cornerstone Wealth Group LLC lifted its position in Eli Lilly and Company by 0.7% during the fourth quarter. Cornerstone Wealth Group LLC now owns 12,648 shares of the company's stock worth $9,765,000 after acquiring an additional 85 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Eli Lilly and Company by 4.1% in the fourth quarter. KBC Group NV now owns 589,009 shares of the company's stock valued at $454,715,000 after purchasing an additional 23,174 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 price target for the company. Citigroup reduced their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research report on Tuesday. 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 research report on Tuesday. StockNews.com lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Barclays dropped their price target 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 report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $997.22.
Get Our Latest Analysis on LLY
Insiders Place Their Bets
In related news, CAO Donald A. Zakrowski sold 900 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company's stock.
Eli Lilly and Company Price Performance
Shares of LLY traded up $19.51 during trading hours on Thursday, reaching $823.59. The stock had a trading volume of 2,635,702 shares, compared to its average volume of 3,922,107. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 12 month low of $637.00 and a 12 month high of $972.53. The stock has a market capitalization of $781.85 billion, a PE ratio of 89.04, a PEG ratio of 1.59 and a beta of 0.41. The company's 50-day moving average is $780.80 and its two-hundred day moving average is $845.98.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the company posted $0.10 earnings per share. The company's revenue was up 20.4% compared to the same quarter last year. Research analysts expect that Eli Lilly and Company will post 12.98 EPS for the current year.
Eli Lilly and Company Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's dividend payout ratio is currently 56.22%.
Eli Lilly and Company declared that its board has initiated a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.
Eli Lilly and 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.
Further Reading
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