Nvest Financial LLC Buys 758 Shares of Eli Lilly and Company (NYSE:LLY)

Nvest Financial LLC grew its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 49.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,286 shares of the company's stock after purchasing an additional 758 shares during the period. Nvest Financial LLC's holdings in Eli Lilly and Company were worth $1,765,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company's stock valued at $905,774,000 after buying an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC grew its position in Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company's stock valued at $614,990,000 after acquiring an additional 692,303 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Eli Lilly and Company by 100.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company's stock worth $1,032,737,000 after purchasing an additional 584,866 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its holdings in Eli Lilly and Company by 599.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company's stock valued at $381,710,000 after purchasing an additional 369,293 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm's 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 sale, the chief accounting officer now owns 5,480 shares of the company's stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Price Performance

LLY traded down $11.62 during trading on Friday, reaching $811.61. The stock had a trading volume of 2,560,693 shares, compared to its average volume of 3,849,697. Eli Lilly and Company has a 1-year low of $637.00 and a 1-year high of $972.53. The firm has a market capitalization of $770.48 billion, a price-to-earnings ratio of 87.74, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41. The stock has a 50 day moving average of $782.29 and a two-hundred day moving average of $845.82. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the previous year, the company posted $0.10 earnings per share. Eli Lilly and Company's revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 12.85 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders 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 dividend yield of 0.74%. 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 56.22%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LLY. Truist Financial raised their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their target price on 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. Wells Fargo & Company reduced their price objective 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 note on Tuesday. Sanford C. Bernstein initiated 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 price target on the stock. Finally, Bank of America reaffirmed a "buy" rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $997.22.

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.