Frisch Financial Group Inc. Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Frisch Financial Group Inc. decreased its position in Eli Lilly and Company (NYSE:LLY) by 15.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,054 shares of the company’s stock after selling 369 shares during the period. Frisch Financial Group Inc.’s holdings in Eli Lilly and Company were worth $1,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in 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 acquiring an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after acquiring an additional 157,741 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Eli Lilly and Company by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock worth $4,481,175,000 after acquiring an additional 169,391 shares during the period. Dimensional Fund Advisors LP grew its holdings in Eli Lilly and Company by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock valued at $3,242,296,000 after purchasing an additional 171,595 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Eli Lilly and Company by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock worth $2,741,832,000 after purchasing an additional 22,392 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LLY has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Bank of America cut their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 2.9 %

NYSE:LLY opened at $802.94 on Tuesday. 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 company has a market capitalization of $762.25 billion, a price-to-earnings ratio of 86.80, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The stock has a 50-day simple moving average of $841.04 and a 200 day simple moving average of $871.97.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. Sell-side analysts predict that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Eli Lilly and Company announced that its Board of Directors has authorized a share repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.