Reliant Investment Management LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

Reliant Investment Management LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 27.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,011 shares of the company’s stock after selling 376 shares during the quarter. Reliant Investment Management LLC’s holdings in Eli Lilly and Company were worth $780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LLY. Beck Bode LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at $15,036,000. Sfmg LLC lifted its position in Eli Lilly and Company by 5.8% during the 2nd quarter. Sfmg LLC now owns 3,219 shares of the company’s stock worth $2,915,000 after acquiring an additional 177 shares during the period. Royal Capital Wealth Management LLC grew its stake in Eli Lilly and Company by 5.2% during the 2nd quarter. Royal Capital Wealth Management LLC now owns 3,869 shares of the company’s stock valued at $3,502,000 after purchasing an additional 191 shares during the last quarter. Insigneo Advisory Services LLC increased its holdings in shares of Eli Lilly and Company by 14.9% in the second quarter. Insigneo Advisory Services LLC now owns 7,000 shares of the company’s stock valued at $6,338,000 after purchasing an additional 908 shares during the period. Finally, Wescott Financial Advisory Group LLC raised its stake in shares of Eli Lilly and Company by 8.7% in the second quarter. Wescott Financial Advisory Group LLC now owns 9,274 shares of the company’s stock worth $8,396,000 after purchasing an additional 744 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Trading Up 1.5 %

LLY stock opened at $753.65 on Thursday. 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 business’s 50-day moving average is $777.46 and its 200 day moving average is $851.61. The stock has a market cap of $715.46 billion, a price-to-earnings ratio of 81.48, a PEG ratio of 1.52 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $614.82 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has approved a stock repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership 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. Investors 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 dividend yield of 0.80%. 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 dividend payout ratio (DPR) is presently 56.22%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Citigroup boosted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.