Rep. Greg Landsman Sells Off Shares of Eli Lilly and Company (NYSE:LLY)

Representative Greg Landsman (D-Ohio) recently sold shares of Eli Lilly and Company (NYSE:LLY). In a filing disclosed on December 12th, the Representative disclosed that they had sold between $15,001 and $50,000 in Eli Lilly and Company stock on November 8th. The trade occurred in the Representative’s “ROCKEFELLER CAPITAL MANAGEMENT (1)” account.

Representative Greg Landsman also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Ameriprise Financial (NYSE:AMP) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of United Rentals (NYSE:URI) on 11/8/2024.
• Sold $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Exxon Mobil (NYSE:XOM) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Pfizer (NYSE:PFE) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Cheniere Energy (NYSE:LNG) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Phillips 66 (NYSE:PSX) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Diamondback Energy (NASDAQ:FANG) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Linde (NASDAQ:LIN) on 10/15/2024.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $789.12 on Friday. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The stock has a 50 day moving average of $833.49 and a 200-day moving average of $871.09. 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 capitalization of $749.13 billion, a P/E ratio of 85.31, a P/E/G ratio of 3.02 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 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, equities research analysts predict that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. 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%.

Analysts Set New Price Targets

Several research analysts have weighed in on LLY shares. Deutsche Bank Aktiengesellschaft lowered their price target 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 report on Monday, November 4th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Citigroup increased their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Barclays dropped their price objective on 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. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Exome Asset Management LLC grew its position in Eli Lilly and Company by 7.7% during the 3rd quarter. Exome Asset Management LLC now owns 10,447 shares of the company’s stock worth $9,255,000 after acquiring an additional 747 shares during the last quarter. DGS Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 7.2% during the third quarter. DGS Capital Management LLC now owns 5,239 shares of the company’s stock valued at $4,641,000 after purchasing an additional 350 shares in the last quarter. Garden State Investment Advisory Services LLC increased its stake in shares of Eli Lilly and Company by 16.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 2,634 shares of the company’s stock valued at $2,338,000 after buying an additional 372 shares during the period. FFG Partners LLC raised its holdings in Eli Lilly and Company by 41.7% in the 3rd quarter. FFG Partners LLC now owns 17,051 shares of the company’s stock valued at $15,106,000 after buying an additional 5,020 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $34,328,000. Institutional investors own 82.53% of the company’s stock.

About Representative Landsman

Greg Landsman (Democratic Party) is a member of the U.S. House, representing Ohio’s 1st Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Landsman is also a member of the Cincinnati City Council in Ohio. He assumed office on January 2, 2018. His current term ends on January 1, 2024. Landsman (Democratic Party) is running for re-election to the U.S. House to represent Ohio’s 1st Congressional District. He declared candidacy for the 2024 election. Greg Landsman was born in Cincinnati, Ohio, and lives in Mt. Washington, Ohio. Landsman earned a B.A. in economics and political science from Ohio University and an M.A. in theological studies, religion, and public policy from Harvard University in 2004. His career experience includes working as the executive director of The Strive Partnership with the KnowledgeWorks Foundation and the director of the Ohio Governor’s Office of Faith-Based and Community Initiatives.

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.