Eli Lilly and Company (NYSE:LLY) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 38.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,459 shares of the company’s stock after selling 4,105 shares during the quarter. Eli Lilly and Company comprises 0.7% of Central Pacific Bank Trust Division’s portfolio, making the stock its 23rd biggest position. Central Pacific Bank Trust Division’s holdings in Eli Lilly and Company were worth $4,986,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. M&T Bank Corp boosted its position in Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares during the period. Everence Capital Management Inc. grew its stake in shares of Eli Lilly and Company by 3.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after buying an additional 690 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in Eli Lilly and Company in the 3rd quarter worth approximately $34,328,000. Cumberland Partners Ltd grew its position in Eli Lilly and Company by 173.4% in the third quarter. Cumberland Partners Ltd now owns 21,984 shares of the company’s stock valued at $19,477,000 after acquiring an additional 13,942 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of Eli Lilly and Company by 132.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 40,055 shares of the company’s stock valued at $35,486,000 after purchasing an additional 22,840 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value 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 trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $6.68 during midday trading on Friday, hitting $784.75. The company’s stock had a trading volume of 902,541 shares, compared to its average volume of 1,408,332. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock’s 50 day simple moving average is $796.03 and its 200 day simple moving average is $864.45. The stock has a market capitalization of $744.98 billion, a price-to-earnings ratio of 84.84, a PEG ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $609.59 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, research analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company declared that its board has authorized a stock buyback 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 stock through open market purchases. Stock buyback plans are often 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. Shareholders of record on Friday, February 14th will be issued 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 yield of 0.76%. Eli Lilly and Company’s dividend payout ratio is 64.86%.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent analyst reports. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock 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.