Pacifica Partners Inc. Has $229,000 Holdings in Eli Lilly and Company (NYSE:LLY)

Pacifica Partners Inc. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 28.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 295 shares of the company’s stock after selling 115 shares during the period. Pacifica Partners Inc.’s holdings in Eli Lilly and Company were worth $229,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC increased its holdings in 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 buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC increased its holdings in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays reduced 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 research report on Thursday, October 31st. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’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 directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents 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 hyperlink. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Up 0.2 %

Shares of NYSE LLY opened at $746.42 on Thursday. The stock has a 50-day moving average price of $784.63 and a two-hundred day moving average price of $857.48. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a market cap of $708.59 billion, a price-to-earnings ratio of 80.69, a PEG ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the company earned $0.10 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

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 issued a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.80%. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Eli Lilly and Company declared that its board has initiated a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.