Eli Lilly and Company (NYSE:LLY) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 445,662 shares of the company’s stock after selling 7,176 shares during the period. Eli Lilly and Company accounts for approximately 1.2% of Fifth Third Bancorp’s portfolio, making the stock its 15th biggest holding. Fifth Third Bancorp’s holdings in Eli Lilly and Company were worth $344,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bennett Selby Investments LP raised its holdings in shares of Eli Lilly and Company by 10.5% in the fourth quarter. Bennett Selby Investments LP now owns 600 shares of the company’s stock valued at $463,000 after buying an additional 57 shares during the last quarter. AM Investment Strategies LLC increased its position in Eli Lilly and Company by 256.1% in the 4th quarter. AM Investment Strategies LLC now owns 1,321 shares of the company’s stock valued at $1,020,000 after acquiring an additional 950 shares during the period. Exchange Traded Concepts LLC raised its stake in Eli Lilly and Company by 13.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 38,810 shares of the company’s stock valued at $29,961,000 after acquiring an additional 4,733 shares during the last quarter. CX Institutional lifted its position in Eli Lilly and Company by 23.2% during the 4th quarter. CX Institutional now owns 23,623 shares of the company’s stock worth $18,237,000 after acquiring an additional 4,452 shares during the period. Finally, Berbice Capital Management LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $673,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 2.4 %

Eli Lilly and Company stock opened at $784.78 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52-week low of $624.68 and a 52-week high of $972.53. The firm has a 50-day moving average price of $776.69 and a two-hundred day moving average price of $848.83. The firm has a market capitalization of $745.01 billion, a price-to-earnings ratio of 84.84, a PEG ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced 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 company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the company posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts expect that Eli Lilly and Company will post 12.98 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The firm 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 annualized dividend and a yield of 0.76%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 56.22%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LLY. Deutsche Bank Aktiengesellschaft decreased their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Citigroup raised their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barclays dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Finally, Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

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.