Brass Tax Wealth Management Inc. Sells 203 Shares of Eli Lilly and Company (NYSE:LLY)

Brass Tax Wealth Management Inc. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 7.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,586 shares of the company’s stock after selling 203 shares during the period. Eli Lilly and Company accounts for approximately 0.9% of Brass Tax Wealth Management Inc.’s portfolio, making the stock its 26th biggest holding. Brass Tax Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $2,291,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LLY. International Assets Investment Management LLC increased its stake in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. Pathway Financial Advisers LLC increased its stake in Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after acquiring an additional 1,021,287 shares during the period. Wulff Hansen & CO. increased its stake in Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after acquiring an additional 936,033 shares during the period. Integrated Investment Consultants LLC increased its stake in Eli Lilly and Company by 37,140.7% during 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 during the period. Finally, Comerica Bank increased its stake in Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’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 completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 0.3 %

Shares of Eli Lilly and Company stock traded down $2.06 on Friday, hitting $780.29. 1,052,009 shares of the company’s stock traded hands, compared to its average volume of 3,196,021. The firm’s 50-day moving average price is $835.43 and its two-hundred day moving average price is $870.78. The stock has a market capitalization of $740.74 billion, a PE ratio of 84.49, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. 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 released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS 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 firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company earned $0.10 EPS. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts expect that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows 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 stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced 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. 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. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Truist Financial lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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 objective on the stock. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Citigroup lifted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

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.