Eli Lilly and Company (NYSE:LLY) Shares Bought by Grassi Investment Management

Grassi Investment Management lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,512 shares of the company’s stock after acquiring an additional 225 shares during the quarter. Eli Lilly and Company makes up approximately 5.2% of Grassi Investment Management’s holdings, making the stock its 5th largest holding. Grassi Investment Management’s holdings in Eli Lilly and Company were worth $61,383,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of LLY. Lyell Wealth Management LP lifted its stake in shares of Eli Lilly and Company by 0.7% during the second quarter. Lyell Wealth Management LP now owns 2,481 shares of the company’s stock valued at $2,246,000 after acquiring an additional 18 shares during the period. Vista Capital Partners Inc. raised its holdings in shares of Eli Lilly and Company by 5.7% in the second quarter. Vista Capital Partners Inc. now owns 1,069 shares of the company’s stock valued at $968,000 after purchasing an additional 58 shares during the last quarter. Seven Mile Advisory boosted its stake in shares of Eli Lilly and Company by 4.0% during the 2nd quarter. Seven Mile Advisory now owns 1,136 shares of the company’s stock worth $1,028,000 after buying an additional 44 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Eli Lilly and Company during the 2nd quarter worth approximately $4,067,000. Finally, Wilkins Investment Counsel Inc. grew its stake in shares of Eli Lilly and Company by 8.4% in the second quarter. Wilkins Investment Counsel Inc. now owns 3,104 shares of the company’s stock valued at $2,810,000 after buying an additional 240 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Up 0.0 %

Shares of LLY stock traded up $0.06 during mid-day trading on Monday, hitting $799.96. The company’s stock had a trading volume of 2,384,900 shares, compared to its average volume of 2,992,725. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52-week low of $612.70 and a 52-week high of $972.53. The stock has a market cap of $759.41 billion, a price-to-earnings ratio of 86.48, a PEG ratio of 2.99 and a beta of 0.41. The business has a 50-day moving average price of $786.08 and a 200 day moving average price of $859.41.

Eli Lilly and Company (NYSE:LLY) last announced 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 net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. Research analysts predict that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized 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 buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. Eli Lilly and Company’s payout ratio is 64.86%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was 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 owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LLY shares. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Truist Financial boosted their target price 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 report on Thursday, October 10th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Bank of America reaffirmed a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.