Eli Lilly and Company (NYSE:LLY) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,758 shares of the company’s stock after buying an additional 1,282 shares during the quarter. Fulton Bank N.A.’s holdings in Eli Lilly and Company were worth $11,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its position in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after purchasing an additional 724 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Everence Capital Management Inc. lifted its position in shares of Eli Lilly and Company by 3.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after acquiring an additional 690 shares in the last quarter. Nordea Investment Management AB increased its position in Eli Lilly and Company by 13.7% during the 4th quarter. Nordea Investment Management AB now owns 1,154,350 shares of the company’s stock worth $887,014,000 after purchasing an additional 138,835 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Eli Lilly and Company in the 4th quarter valued at about $899,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, 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 can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded up $8.87 during midday trading on Wednesday, reaching $782.16. The company’s stock had a trading volume of 1,609,189 shares, compared to its average volume of 2,560,894. Eli Lilly and Company has a one year low of $612.70 and a one year high of $972.53. The company has a market cap of $742.52 billion, a price-to-earnings ratio of 84.56, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The company has a 50 day moving average price of $788.56 and a 200 day moving average price of $861.70. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results 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). 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 earned $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase 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 generally a sign that the company’s leadership 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. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent analyst reports. Citigroup lifted their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. 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 report on Thursday, October 31st. 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. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target 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.