Flagship Harbor Advisors LLC Sells 370 Shares of Eli Lilly and Company (NYSE:LLY)

Flagship Harbor Advisors LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,542 shares of the company’s stock after selling 370 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Eli Lilly and Company were worth $5,051,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LLY. Driehaus Capital Management LLC boosted its holdings in Eli Lilly and Company by 94.2% in the second quarter. Driehaus Capital Management LLC now owns 1,635 shares of the company’s stock worth $1,480,000 after purchasing an additional 793 shares during the last quarter. Algert Global LLC boosted its stake in shares of Eli Lilly and Company by 27.9% in the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after buying an additional 110 shares during the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of Eli Lilly and Company in the second quarter worth $2,114,000. Wallace Advisory Group LLC purchased a new stake in Eli Lilly and Company during the second quarter valued at $321,000. Finally, Regal Investment Advisors LLC lifted its holdings in Eli Lilly and Company by 0.3% in the second quarter. Regal Investment Advisors LLC now owns 5,323 shares of the company’s stock valued at $4,819,000 after acquiring an additional 16 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s 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 transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective 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 research note on Monday, November 4th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Truist Financial lifted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $808.16 on Tuesday. The stock has a market cap of $767.20 billion, a price-to-earnings ratio of 87.37, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a 50 day moving average price of $776.69 and a 200-day moving average price of $848.19. Eli Lilly and Company has a one year low of $637.00 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts expect that Eli Lilly and Company will post 12.98 EPS for the current year.

Eli Lilly and Company announced that its board has authorized a stock buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.74%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

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.