Exchange Bank Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Exchange Bank boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 22.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,211 shares of the company’s stock after purchasing an additional 222 shares during the period. Exchange Bank’s holdings in Eli Lilly and Company were worth $935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the 3rd quarter valued at $30,000. Highline Wealth Partners LLC raised its holdings in 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 lifted its position in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the period. Finally, West Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $58,000. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction 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 completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LLY shares. Barclays lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Truist Financial raised their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Up 1.5 %

LLY stock opened at $753.65 on Thursday. The stock has a market capitalization of $715.46 billion, a P/E ratio of 81.48, a P/E/G ratio of 1.52 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 has a 1-year low of $614.82 and a 1-year high of $972.53. The business has a fifty day moving average price of $777.46 and a 200-day moving average price of $851.61.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during 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%. Eli Lilly and Company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. Equities analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership 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. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 56.22%.

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.