Eli Lilly and Company (NYSE:LLY) Stock Position Lowered by RDA Financial Network

RDA Financial Network lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 35.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,810 shares of the company’s stock after selling 1,523 shares during the quarter. RDA Financial Network’s holdings in Eli Lilly and Company were worth $2,169,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter worth $30,000. Highline Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 80.0% during 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. Cedar Mountain Advisors LLC lifted its holdings in shares of 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 purchasing an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of Eli Lilly and Company by 117.1% in 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 period. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on LLY. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Barclays decreased their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Down 4.1 %

Eli Lilly and Company stock opened at $726.24 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 1-year low of $612.70 and a 1-year high of $972.53. The firm’s fifty day simple moving average is $783.25 and its 200-day simple moving average is $856.02. The company has a market capitalization of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its 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). 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 the consensus estimate of $12.09 billion. During the same quarter last year, the business earned $0.10 earnings per share. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. Sell-side analysts forecast that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and 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.