Christensen King & Associates Investment Services Inc. Sells 26 Shares of Eli Lilly and Company (NYSE:LLY)

Christensen King & Associates Investment Services Inc. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,126 shares of the company’s stock after selling 26 shares during the period. Christensen King & Associates Investment Services Inc.’s holdings in Eli Lilly and Company were worth $896,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Eli Lilly and Company by 92,759.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after purchasing an additional 1,021,287 shares during the last quarter. Wulff Hansen & CO. increased its stake in shares of Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Eli Lilly and Company by 37,140.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after purchasing an additional 692,303 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Eli Lilly and Company by 71.6% in the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after purchasing an additional 631,312 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

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 value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Barclays cut their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four 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 presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Down 6.9 %

Shares of NYSE:LLY opened at $742.80 on Wednesday. The company has a market capitalization of $705.15 billion, a price-to-earnings ratio of 80.30, a P/E/G ratio of 2.99 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. The business’s 50-day moving average is $784.63 and its 200-day moving average is $857.48. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 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%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. Equities research analysts predict that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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 paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.81%. 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 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.