Pathway Financial Advisers LLC Sells 1,021,202 Shares of Eli Lilly and Company (NYSE:LLY)

Pathway Financial Advisers LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 99.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,186 shares of the company's stock after selling 1,021,202 shares during the period. Pathway Financial Advisers LLC's holdings in Eli Lilly and Company were worth $915,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LLY. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company in the third quarter worth $30,000. Highline Wealth Partners LLC raised its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after purchasing an additional 20 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock worth $41,000 after purchasing an additional 24,879 shares during the period. Finally, Compass Financial Services Inc acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $50,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LLY has been the topic of a number of research analyst reports. Citigroup dropped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Bank of America restated a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 price objective on the stock. Redburn Atlantic upgraded shares of Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lowered 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 note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $997.50.

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Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $27.04 during midday trading on Monday, hitting $844.82. The stock had a trading volume of 3,219,625 shares, compared to its average volume of 4,056,943. The company's 50-day moving average price is $794.44 and its 200-day moving average price is $845.27. The company has a market capitalization of $802.01 billion, a P/E ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. 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 has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. As a group, equities research analysts predict that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 0.71%. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company's dividend payout ratio is currently 44.41%.

Eli Lilly and Company declared that its board has initiated a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are 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.