Eli Lilly and Company (NYSE:LLY) Shares Sold by Worth Asset Management LLC

Worth Asset Management LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,539 shares of the company’s stock after selling 91 shares during the period. Worth Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,188,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC grew its holdings in Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after purchasing an additional 11 shares during the period. Summit Financial Strategies Inc. grew its stake in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after buying an additional 11 shares during the period. Prio Wealth Limited Partnership increased its holdings in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after buying an additional 11 shares during the last quarter. O Brien Greene & Co. Inc grew its holdings in shares of Eli Lilly and Company by 1.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock worth $865,000 after purchasing an additional 12 shares during the period. Finally, Tcwp LLC grew its holdings in shares of Eli Lilly and Company by 2.3% during the 2nd quarter. Tcwp LLC now owns 524 shares of the company’s stock worth $474,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. 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. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Citigroup upped their target price 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. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Barclays reduced their target price 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 report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $8.87 during trading on Wednesday, hitting $782.16. 1,609,189 shares of the company traded hands, compared to its average volume of 2,560,894. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The business’s fifty day moving average is $788.56 and its 200-day moving average is $861.70. The stock has a market capitalization of $742.52 billion, a price-to-earnings ratio of 84.56, a PEG ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a one year low of $612.70 and a one year high of $972.53.

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 the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company 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 business earned $0.10 earnings per share. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities analysts predict that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. 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. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company’s payout ratio is currently 64.86%.

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.