Eli Lilly and Company (NYSE:LLY) Shares Acquired by Invst LLC

Invst LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,552 shares of the company’s stock after acquiring an additional 189 shares during the quarter. Invst LLC’s holdings in Eli Lilly and Company were worth $4,918,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LLY. M&T Bank Corp lifted its stake in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares during the period. Second Line Capital LLC bought a new stake in Eli Lilly and Company during the third quarter worth approximately $201,000. Soltis Investment Advisors LLC lifted its position in Eli Lilly and Company by 10.7% in the third quarter. Soltis Investment Advisors LLC now owns 1,256 shares of the company’s stock worth $1,113,000 after purchasing an additional 121 shares during the period. Rehmann Capital Advisory Group boosted its stake in Eli Lilly and Company by 3.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 4,357 shares of the company’s stock valued at $3,712,000 after purchasing an additional 131 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in shares of Eli Lilly and Company by 5.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 12,543 shares of the company’s stock valued at $11,112,000 after purchasing an additional 669 shares during the period. 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 stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction 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. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

NYSE LLY opened at $800.85 on Wednesday. The company has a 50 day simple moving average of $841.04 and a 200-day simple moving average of $871.97. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The firm has a market capitalization of $760.26 billion, a price-to-earnings ratio of 86.58, a price-to-earnings-growth ratio of 3.13 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.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 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 company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. Equities research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has approved a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Guggenheim raised their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

About Eli Lilly and Company

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.