Stonegate Investment Group LLC Sells 716 Shares of Eli Lilly and Company (NYSE:LLY)

Stonegate Investment Group LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,283 shares of the company's stock after selling 716 shares during the quarter. Stonegate Investment Group LLC's holdings in Eli Lilly and Company were worth $43,451,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the third quarter worth $30,000. Highline Wealth Partners LLC boosted its holdings in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC grew its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company's stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock valued at $41,000 after purchasing an additional 24,879 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Performance

LLY stock opened at $823.59 on Friday. Eli Lilly and Company has a 1 year low of $637.00 and a 1 year high of $972.53. The company has a market cap of $781.85 billion, a P/E ratio of 89.04, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock's fifty day moving average price is $780.80 and its 200-day moving average price is $845.98.

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 the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analysts' expectations 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 revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 12.85 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's payout ratio is currently 56.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LLY shares. Bank of America reissued a "buy" rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a "hold" rating in a report on Monday, November 4th. Citigroup dropped their price target 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. Finally, Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock 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.